FINANCE

S. Korea's FX reserves hit record high in September

By Yonhap
  • Published : Oct 6, 2021 - 09:17
  • Updated : Oct 6, 2021 - 09:17

This file photo shows a Hana Bank official in Seoul inspecting US banknotes before their release into the local financial market. (Yonhap)
South Korea's foreign reserves rose to an all-time high in September due to a rise in profits from investment of foreign currency assets, central bank data showed Wednesday.

The nation's foreign reserves came to $463.97 billion as of end-September, up $40 million from the previous month, according to the Bank of Korea (BOK).

Foreign reserves consist of securities and deposits denominated in overseas currencies, International Monetary Fund reserve positions, special drawing rights and gold bullion.

Foreign securities came to $419.3 billion as of end-September, up $1.05 billion from the previous month and accounting for 90.4 percent of the FX reserves.

But deposits fell $1.15 billion on-month to $19.85 billion, and gold holdings remained unchanged at $4.79 billion.

As of the end of September, South Korea was the world's eighth-largest holder of FX reserves, the BOK said. (Yonhap)