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S. Korea's foreign reserves rebound in November

SEOUL
2023-12-05 09:18

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SEOUL, Dec. 5 (Xinhua) -- South Korea's foreign reserves marked the first rebound in four months due to the higher conversion value of non-U.S. dollar assets, central bank data showed Tuesday.

Foreign currency reserves came in at 417.08 billion U.S. dollars at the end of November, up 4.21 billion dollars from a month earlier, according to the Bank of Korea.

The weak dollar expanded the conversion value of non-dollar assets. The dollar index, which gauges the dollar value versus six major peers, declined 3.2 percent last month.

The country's foreign reserves were composed of 372.07 billion dollars of securities, 20.60 billion dollars of deposits, 15.10 billion dollars of special drawing rights, 4.79 billion dollars of gold bullion and 4.52 billion dollars of the IMF position.

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