(MENAFN) The Bank of Korea (BOK) said that in November, the country's foreign reserves hit USD326.09 billion, up from USD323.46 billion in the previous month, reported Xinhua News.
In a bid to diversify its foreign reserves, the BOK increased its holdings of gold by 14 tons in the month to 84.4 tons, which represent 1.2 percent of its total foreign reserves, up from 0.9 percent in October.
The central bank said that since April 2011, South Korea's foreign reserves remained above the USD300 billion level.
It attributed the month's increase to a gain in investment returns that compensate a decline in conversion value of non-dollar denominated assets
It is worth noting that South Korean foreign reserves comprised USD299.03 billion of securities, USD17 billion of deposits, USD3.52 billion of special drawing rights (SDR), USD2.78 billion of International Monetary Fund (IMF) positions and USD3.76 billion of gold bullion.
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