South Korea's foreign exchange reserves hit a record high in August due to a hike in the value of non-dollar currencies when converted into the US greenback, central bank data showed Tuesday.
As of the end of August, the country's foreign exchange reserves came to $384.84 billion, up $1.08 billion from the previous month, the Bank of Korea said in a statement.
Foreign exchange reserves consist of securities and deposits denominated in overseas currencies, as well as International Monetary Fund reserve positions, special drawing rights and gold bullion.
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(Yonhap) |
The country's reserve position at the IMF stood at $1.75 billion as of the end of August, compared with $1.73 billion a month earlier.
Holdings in gold bullion remained unchanged at $4.79 billion during the same period, the statement said.
Meanwhile, the BOK said South Korea was the world's ninth-largest holder of foreign exchange reserves as of end-July, following China, Japan, Switzerland, Saudi Arabia, Taiwan, Russia, Hong Kong and India. (Yonhap)
