South Korea’s foreign reserves rose last month due to the higher conversion value of non-U.S. dollar assets, central bank data showed Wednesday.
Foreign currency reserves came to 421.45 billion U.S. dollars at the end of June, up 0.47 billion dollars from a month earlier, according to the BOK.
It was attributed to the weaker dollar that increased the conversion value of non-dollar assets. The dollar index, which gauges the dollar value versus six major peers, declined 0.8 percent last month. The country’s foreign reserves were composed of 375.64 billion dollars of securities, 21.56 billion dollars of deposits, 14.74b dollars of special drawing rights, 4.79 billion dollars of gold bullion, and 4.72 billion dollars of the IMF position.—APP
