Korea’s foreign reserves rebound from 5-yr low in March

The Republic of Korea’s foreign reserves grew from a month earlier in March, rebounding from the lowest level in nearly five years on a quarter-end effect and higher returns on assets denominated in overseas currencies, central bank data showed Thursday.

Yonhap News Agency quoted the Bank of Korea (BOK) as saying that the country’s foreign reserves stood at US$409.66 billion as of end-March, up $450 million from a month earlier.