The Bank of Korea announced on Oct. 6 that South Korea’s foreign exchange reserves hit an all-time high of US$463.97 billion at the end of last month. For reference, the reserves were US$458.68 billion in July and US$463.93 billion in August.
“This was led by an increase in the rate of return on marketable securities, which account for 90.4 percent of the reserves,” the central bank explained, adding, “The securities increased by US$1.05 billion to US$419.35 billion in September, when the SDR increased by US$190 million to US$15.38 billion.”
On the other hand, deposits and the IMF position fell US$1.15 billion and US$50 million to US$19.85 billion and US$4.6 billion, respectively. At the end of August, South Korea’s foreign exchange reserves were the eighth-largest in the world.
Read More: Korea’s Foreign Exchange Reserves at Record High Again