Key facts
- South Korea's foreign exchange reserves fell to $426.99 billion in May.
- Reserves decreased from $427.88 billion in the previous period.
- The South Korean Won is approaching its lowest level since 2009.
- The government pledged to act against excessive currency volatility.
South Korea's foreign exchange reserves experienced a decline in May, falling to $426.99 billion from $427.88 billion in the preceding period. This figure represents the total U.S. dollar reserves held by the country. The decrease indicates a slight reduction in the nation's holdings of foreign currency. Concurrently, the South Korean government has pledged to take action to curb excessive volatility in the currency, as the Won approaches its lowest level since 2009. Bond yields also climbed amid these developments.