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S. Korea's foreign reserves rise for 2nd month in April

SEOUL
2023-05-04 09:12

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SEOUL, May 4 (Xinhua) -- South Korea's foreign reserves rose for the second consecutive month in April due to a higher conversion value of non-U.S. dollar assets, central bank data showed Thursday.

Foreign currency reserves came to 426.68 billion U.S. dollars at the end of April, up by 0.61 billion dollars from a month earlier, according to the Bank of Korea (BOK).

It continued to grow for the second month after expanding by 0.78 billion dollars in the previous month.

The weak dollar increased the conversion value of non-dollar assets. The dollar index, which gauges the dollar value versus six major peers, declined 0.6 percent last month.

The country's foreign reserves were composed of 374.34 billion dollars of securities, 27.85 billion dollars of deposits, 14.93 billion dollars of special drawing rights, 4.79 billion dollars of gold bullion and 4.77 billion dollars of the IMF position.

South Korea was the world's ninth-largest holder of foreign reserves at the end of March, unchanged from a month earlier.
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