(MENAFN- Qatar News Agency) South Korea's foreign exchange reserves decreased in May from a record high reached in the previous month.
According to the Bank of Korea (BOK), a weaker euro and British pound reduced the conversion value of non-dollar assets.
The country's foreign reserves reached US$310.87 billion at the end of last month, down $5.97 billion from April. In April, the country's foreign reserves reached an all-time-high of $316.84 billion, South Korean news agency (Yonhap) reported.
South Korea's foreign reserves surpassed the $300 billion mark in April 2011 amid sustained inflows of foreign capital and robust exports.
Foreign reserves consist of securities and deposits denominated in overseas currencies, along with the International Monetary Fund reserve positions, special drawing rights and gold bullion.
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