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| Korea’s foreign-exchange reserves trend chart. / Source: Bank of Korea |
Operating gains and new foreign-currency stabilization bond issuance helped lift South Korea’s foreign-exchange reserves in October.
On November 5, the Bank of Korea said the nation’s FX reserves stood at $428.82 billion at end-October, up $6.8 billion from a month earlier.
The reserves comprised $377.96 billion in securities, $25.94 billion in deposits, $15.71 billion in Special Drawing Rights (SDRs), $4.79 billion in gold and $4.41 billion in the IMF reserve position. A $7.4 billion month-on-month increase in deposits led the overall rise.
The October gain largely reflected investment income and proceeds from new foreign-currency stabilization bonds, the central bank said.
As of end-September, South Korea’s reserve holdings ranked ninth in the world.
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