Why did BOK suddenly stop disclosing its FX reserve ranking?
11 Articles
11 Articles
South Korea's international reserves rose by a record $14.3 billion in August, up from $442.3 billion in July, according to the Bank of Korea.
Why did BOK suddenly stop disclosing its FX reserve ranking?
The Bank of Korea (BOK) has decided to stop disclosing Korea's ranking among major countries by foreign exchange reserves on Thursday, ending a practice that had continued for more than 25 years. In its monthly report on foreign exchange reserves released Thursday morning, the central bank left out the section showing Korea's ranking among major countries, a figure it had routinely included in its releases. It was the first time since February 2…
Today, Thursday, the Central Bank of South Korea announced an increase in the country's foreign exchange reserves over the past August of $14.33 billion, reaching $442.28 billion, the largest monthly increase since the data collection began in 1971.
The Bank of Korea excluded information on South Korea's global ranking of foreign exchange reserves from its press release without prior explanation. The press release on "Foreign Exchange Reserves at the End of August," issued by the Bank of Korea's International Department on the 3rd, omits the country-by-country ranking data on foreign exchange reserves that has been provided monthly. South Korea's global ranking was not included as a separat…
The Bank of Korea abruptly halted the disclosure of South Korea's global ranking of foreign exchange reserves without any prior explanation. This marks the first time in over 25 years, since 2001 when nationwide attention was focused on international comparisons of reserves during the process of overcoming the foreign exchange crisis, that the relevant item has been effectively removed.
The Bank of Korea announced on the 3rd that South Korea's foreign exchange reserves stood at $442.28 billion as of the end of August, an increase of $14.33 billion from the previous month, marking the largest increase on record. This surge is attributed to an increase in the number of financial institutions depositing dollars with the Bank of Korea after the bank began paying interest to institutions that maintain foreign currency deposits above…
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