Seoul: The Republic of Korea’s foreign reserves experienced a decline in April, reaching the lowest point in five years, as indicated by central bank data released recently. The weakening of the local currency contributed to this decrease.
According to Emirates News Agency, the country’s foreign reserves were recorded at US$404.67 billion by the end of April, marking a reduction of $4.99 billion from the previous month. This level represents the lowest since April 2020, when the reserves were at $403.98 billion.