South Korea Foreign Exchange Reserves Rise to 443.16 Billion Dollars
The Bank of Korea reported that foreign exchange reserves rose to 443.16 billion dollars in October, driven by increased deposits and asset management returns.
The Bank of Korea reported that South Korea's foreign exchange reserves rose to 443.16 billion U.S. dollars at the end of October. This represents an increase of 2.6 billion dollars from the previous month, reversing a 1.72 billion dollar decrease recorded in September.
The central bank attributed the growth to higher returns from foreign asset management and an increase in foreign currency deposits at domestic financial institutions. Despite the overall rise, foreign securities—which include corporate and government bonds—decreased by 3.59 billion dollars to 382.43 billion dollars. These securities continue to be the largest component of the reserves, accounting for 86.3 percent of the total.
Other reserve assets include 36.27 billion dollars in foreign currency deposits, 15.41 billion dollars in special drawing rights, 4.79 billion dollars in gold, and a 4.25 billion dollar reserve position with the International Monetary Fund.
