S. Korea's foreign currency reserves hit record high at 387 bln USD

SEOUL, Dec. 5 (Xinhua) -- South Korea's foreign currency reserves hit a record monthly high in November, rebounding for the first time in three months, central bank data showed Tuesday.

Foreign reserves amounted to 387.25 billion U.S. dollars in November, up 2.79 billion dollars from a month earlier, according to the Bank of Korea (BOK).

The weak dollar led to higher conversion value of non-dollar assets, helping to increase the country's asset holdings denominated in foreign currencies. Investment return from foreign currency holdings also kept rising, the BOK said.

The European single currency gained 1.8 percent to the dollar last month, with the British pound and the Japanese yen appreciating 1.6 percent and 1 percent each versus the greenback.

The foreign reserves were composed of 358.92 billion dollars of securities, 18.63 billion dollars of deposits, 4.79 billion dollars of gold bullion, 3.28 billion dollars of special drawing rights and 1.63 billion dollars of IMF positions.

As of end-October, South Korea was the ninth largest holder of foreign reserves.

[ Editor: meng ]


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