Wed, 29 Mar 2023

SEOUL, Feb. 3 (Xinhua) -- South Korea's foreign reserves kept rising for the third consecutive month in January due to a higher conversion value of non-U.S. dollar assets, central bank data showed Friday.

Foreign currency reserves came in at 429.97 billion U.S. dollars at the end of January, up 6.81 billion U.S. dollars from a month earlier, according to the Bank of Korea (BOK).

The weak dollar increased the conversion value of non-dollar assets. The dollar index, which gauges the dollar value versus six major peers, declined 1.5 percent last month.

The country's foreign reserves were composed of 371.42 billion U.S. dollars of securities, 34.17 billion U.S. dollars of deposits, 15.05 billion U.S. dollars of special drawing rights, 4.79 billion U.S. dollars of gold bullion and 4.54 billion U.S. dollars of the IMF position.

South Korea was the world's ninth-largest holder of foreign reserves at the end of December 2022, unchanged from the previous month.

More South Korea News

Access More

Sign up for South Korea News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!