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Bank of Korea foreign reserves grow to a new record in October  Join our daily free Newsletter

MENAFN - 05/11/2012

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(MENAFN) Official report showed that South Korea's foreign reserves grew by USD1.45 billion, totalling USD323.46 billion in October as investment gains offset the decreased conversion value of non-dollar assets, official news agency Yongap reported.

The Bank of Korea (BOK) foreign reserves consist of securities and deposits denominated in overseas currencies, along with International Monetary Fund reserve positions, special drawing rights and gold bullion, the central bank said in a statement.

The central bank added that the FX reserves have been growing, driven by exports and inflows of foreign capital.

South Korea has the world's seventh-largest foreign exchange reserves as of the end of September.

 






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