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S. Korea's Central Bank Lowers Dollar Holdings In Forex Reserves

South Korea's central bank reduced the ratio of U.S. dollar assets in its reserves in 2011, in order to diversify the reserves and cope with volatility.

The Bank of Korea on Friday said in its annual report that dollar holdings fell to 60.5 percent of total foreign-exchange reserves at the end of 2011 from 63.7 percent a year ago.

The central bank, which holds the world's seventh-biggest foreign reserves, raised their holdings of foreign government bonds to 36.8 percent of its foreign exchange reserves from 35.8 percent in the prior year.

by RTTNews Staff Writer

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