South Korea's foreign exchange reserves amounted to 258.2 billion U.S. dollars in May, dropping 2.28 billion U.S. dollars from the previous month, the Bank of Korea(BOK) said Tuesday.
According to the BOK, a stronger U.S. dollar brought down the dollar value of assets in other currencies like the euro and led to the fall of South Korea's foreign reserves.
"Foreign reserves fell last month mainly because the dollar conversion value of non-dollar assets fell and the central bank participated in swap markets, with unloading the greenback," the central bank said.
Source: Xinhua
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