Xinhua, Seoul :
South Korea’s foreign reserves hit a new record high last month on the continued increase in asset management returns, central bank data showed Thursday.
Foreign reserves reached a fresh monthly high of 403 billion U.S. dollars as of end-September, up 1.87 billion dollars from a month earlier, according to the Bank of Korea (BOK).
It was a turnaround from the August fall as profit from foreign reserves management kept rising. The government issued 1 billion dollars of foreign exchange stabilization fund last month, contributing to the foreign reserves growth.
The country’s foreign reserves were composed of 375.63 billion dollars of securities, 17.15 billion dollars of deposits, 4.79 billion dollars of gold bullion, 3.51 billion dollars of special drawing rights and 1.91 billion dollars of IMF positions.
South Korea was the world’s eighth largest holder of foreign reserves as of August, up one notch from the previous month.
South Korea’s foreign reserves hit a new record high last month on the continued increase in asset management returns, central bank data showed Thursday.
Foreign reserves reached a fresh monthly high of 403 billion U.S. dollars as of end-September, up 1.87 billion dollars from a month earlier, according to the Bank of Korea (BOK).
It was a turnaround from the August fall as profit from foreign reserves management kept rising. The government issued 1 billion dollars of foreign exchange stabilization fund last month, contributing to the foreign reserves growth.
The country’s foreign reserves were composed of 375.63 billion dollars of securities, 17.15 billion dollars of deposits, 4.79 billion dollars of gold bullion, 3.51 billion dollars of special drawing rights and 1.91 billion dollars of IMF positions.
South Korea was the world’s eighth largest holder of foreign reserves as of August, up one notch from the previous month.
