The country's foreign reserve holdings totaled US$374.75 billion as of the end of June, up $3.24 billion from a month earlier, according to the Bank of Korea (BOK).
BOK officials attributed the one-month gain to an increase in the dollar conversion value of assets caused by the strengthening non-dollar currencies such as euro and sterling, and a rise in returns on foreign currency asset management.
As of the end of May, South Korea was the sixth-largest holder of FX reserves in the world, after China ($3,730.0 billion), Japan ($1,245.8 billion), Saudi Arabia ($679.7 billion), Switzerland ($599.2 billion) and Taiwan ($419.0 billion), according to the announcement.
reporter
Park Sae-jin
swatchsjp@ajunews.com
