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Sovereign Wealth Funds Briefing - Categorized | Reserve Currencies

Korea’s foreign reserves rocket

Posted on 06 January 2010

From Joongang Daily: Korea’s foreign currency reserves grew by a record amount last year, though they dropped slightly last month from November’s record high, the Bank of Korea said yesterday.

The nation’s foreign currency reserves rose by $68.77 billion last year to hit $269.99 billion. That, the bank said, represents the biggest spike since at least the 1960s, the earliest data on record. The bank attributed part of the spike in 2009 to the nation’s sizable current account surplus…………………………………….Full Article: Source

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