SEOUL: The ratio of US dollar-denominated assets in South Korea’s foreign exchange reserves climbed to the highest on record at the end of 2022 on the dollar’s rally during the year, the country’s central bank said on Thursday.
The Bank of Korea said in its annual report that US dollar assets accounted for 72.0% of the total foreign exchange reserves, up from 68.3% a year before and the highest since 2007, when annual data began to be released by the central bank.
It said the increased ratio of dollar assets was related to the currency’s strength against most other currencies, although it did not disclose further details such as figures for other currencies.
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