S. Korea's FX reserves up for 7th straight month to fresh record high in Oct.
SEOUL, Nov. 4 (Yonhap) -- South Korea's foreign reserves climbed for the seventh straight month in October due to a rise in the value of non-dollar assets and an increase in investment returns, central bank data showed Wednesday.
The country's foreign reserves came to a record high of US$426.5 billion as of end-October, up $5.96 billion from a month earlier, 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.
The country's FX reserves have risen every month since April after dropping by the largest amount in over a decade in March amid the COVID-19 pandemic-caused market rout.
The BOK said the foreign reserves increased as a weaker U.S. dollar raised the dollar-conversion value of non-dollar assets, while deposits denominated in foreign currencies and investment profits rose.
Last month, the dollar index, a gauge of the greenback's value against a basket of six foreign currencies, fell 0.4 percent. The euro stayed flat per the greenback and the British pound rose 0.7 percent. The Japanese yen gained 0.9 percent versus the dollar.
Foreign securities came to $383.7 billion as of end-October, up $4.57 billion from the previous month and accounting for 90 percent of the FX reserves.
Deposits rose $1.36 billion on-month to $30.5 billion, and gold holdings remained unchanged at $4.79 billion.
As of the end of September, South Korea was the world's ninth-largest holder of foreign exchange reserves.
sooyeon@yna.co.kr
(END)
-
'Dynamite' becomes 3rd BTS video to top 1 bln views
-
BTS enters Billboard Hot 100 with new Japanese single
-
S. Korea, U.S. authorities assess N.K. has completed building new 3,000-ton submarine: sources
-
'Fake Love' becomes 4th BTS video to top 900 mln views
-
BTS to stream concerts in weekend Bang Bang Con event
-
(Yonhap Feature) How young voters, once solid supporters of liberal causes, turned against Moon's party in by-elections
-
From Rose to Baekhyun, K-pop group idols also shine as solo acts
-
Moon takes election rout as 'reprimand' from the public, Cheong Wa Dae says
-
Boy band TXT to perform on Ellen DeGeneres show in latest global push
-
BTS to stream concerts in weekend Bang Bang Con event
-
Sex doll experience cafe condemned by residents in Yongin
-
S. Korea voices 'grave concerns' over Japan's expected decision to release Fukushima water into sea
-
(3rd LD) S. Korea expresses 'strong regret' over Japan's decision to release water from Fukushima
-
New Marine Corps commandant takes office
-
(LEAD) New virus cases under 600 for 2nd day; spring resurgence in store