S. Korea’s FX reserves hit $415.6b in Dec ’24

South Korea’s official foreign reserves totaled $415.6 billion at the end of December 2024, reflecting a slight increase of $0.2 billion from November.

The reserves comprise securities ($366.7 billion, 88.2 per cent), deposits ($25.2 billion, 6.1 per cent), Special Drawing Rights (SDRs) ($14.7 billion, 3.5 per cent), gold ($4.8 billion, 1.2 per cent), and the IMF position ($4.2 billion, 1.0 per cent).

While the total reserves showed minimal growth, securities holdings declined by $5.7 billion during December, offset by a $6.1 billion rise in deposits.

Globally, as of November 2024, South Korea ranked ninth in foreign reserve holdings, trailing Hong Kong ($425.1 billion) and leading Germany ($386.3 billion). China retained the top spot with $3.265 trillion.

These figures underscore Korea’s resilience in maintaining substantial reserves amid global economic fluctuations.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser