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

SEOUL
2024-01-04 08:23

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

Foreign currency reserves came to 420.15 billion U.S. dollars at the end of December, up 3.07 billion dollars from a month earlier, according to the Bank of Korea (BOK).

The weak dollar expanded the conversion value of non-dollar assets. The dollar index, which gauges the dollar value versus six major peers, retreated 1.5 percent last month.

The country's foreign reserves were composed of 373.67 billion dollars of securities, 21.98 billion dollars of deposits, 15.08 billion dollars of special drawing rights, 4.79 billion dollars of gold bullion and 4.63 billion dollars of the IMF position.

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