S. Korea's FX reserves hit all-time high of US$ 458 bil. in July
Updated: 2021-08-04 13:37:24 KST
South Korea's foreign exchange reserves rose to a record high last month as the dollar got a little weaker, which boosted the value of the country's holdings in other currencies.
The Bank of Korea says reserves amounted to some 4-hundred 58 billion U.S. dollars, up nearly 4.6 billion on month.
It attributed the rise to an increase in revenue from foreign currency assets,.. as well as deposits at financial institutions.
As of the end of June, South Korea's FX reserves were the eighth largest in the world, having risen one spot since April.