Korea's foreign exchange reserves rose to a fresh high last month... mainly due to a weaker dollar.<br />Data from the Bank of Korea shows F-X reserves came to just over 405 billion dollars in January,... up almost two billion from the month before.<br />The total value of Korea's foreign currency holdings has been on the rise for three consecutive months. <br />The central bank attributed the increase to a depreciation of the greenback... which means an increase in the value of other currencies when converted into dollars.<br />In general, F-X reserves are held to back up the national currency in case of a devaluation.<br />As of the end of December, Korea had the eighth biggest F-X reserves in the world, with China topping the list. <br />
