S. Korean Jan. Forex Reserves Reach Record High

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South Korea's foreign exchange reserves rose to a record high level of US$273.69 billion in January, the Bank of Korea reported Tuesday. Reserves had declined in December to US$269.99 billion from a record US$270.89 billion reported in November.

A central bank official said the increase in January was driven by investment profits. Also, the state-run National Pension Service repaid around $400 million to the central bank as part of its currency swap arrangement.

South Korea's foreign exchange reserves rose to a record high level of US$273.69 billion in January, the Bank of Korea reported Tuesday. (Market News Provided by RTTNews)