South Korea’s foreign exchange reserves fell by nearly $5 billion in April to $404.67 billion — the lowest level since April 2020 — as authorities intervened to stabilise currency markets amid trade tensions.
- The Bank of Korea cited FX swap operations with the national pension fund as a key factor behind the drop, aimed at easing dollar demand.
- The decline came as the Korean won rebounded 3.3% in April after briefly hitting a 16-year low due to new U.S. tariff policies.
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KRW update - Asia currencies have spurted higher against the USD since:
