SEOUL, Mar 4 (NNN-YONHAP) – South Korea’s foreign reserves hit a new record high last month, as the weak U.S. dollar increased the conversion value of non-dollar assets, central bank data showed today.
Foreign currency reserves reached 447.56 billion U.S. dollars, as of the end of Feb, up 4.83 billion dollars from a month earlier, according to the Bank of Korea (BOK).
The dollar index, which measures the dollar value versus six major peers, declined 0.4 percent from a month earlier, to 90.13 at the end of Feb.
The country’s foreign reserves were composed of 409.63 billion dollars of securities, 24.74 billion dollars of deposits, 4.79 billion dollars of gold bullion, 3.59 billion dollars of special drawing rights (SDR), and 4.81 billion dollars of IMF position.
South Korea was the world’s ninth-largest holder of foreign reserves, at the end of Jan, unchanged from the previous month.– NNN-YONHAP
