S Korea's foreign reserves come to USD 469.2, hit a 'record high' for 4 months

South Korea's foreign reserves rose by more than USD 5 billion in a month to an all-time high for four consecutive months.

According to the data provided by the Bank of Korea (BOK) on the 3rd, Korea's foreign reserves reached USD 469.21 as of the end of October.

Foreign exchange reserves reached an all-time high of USD 458.68 billion for the first time at the end of July. Since then, it has continued to increase to USD 463.93 billion at the end of August and USD 463.97 billion at the end of September.

Last month, foreign reserves increased USD 5.24 billion the previous month.

This is similar to an increase of USD 5.25 billion in August when the International Monetary Fund (IMF) allocated special drawing rights (SDR) worth USD 11.7 billion.

The BOK said, "The increase in foreign reserves is attributable to the increase in the dollar conversion of other foreign currency assets, the issuance of currency stabilization bonds, foreign currency deposits, and operating income of foreign currency assets."

By foreign currency asset, deposits increased USD 5.95 billion on-month to USD 25.79 billion.

'IMF Position', the right to withdraw convertible currency to the IMF rose by USD 80 million to USD 4.68 billion and SDR rose by USD 140 million to USD 15.52 billion.

However, securities such as government bonds and corporate bonds fell by USD 940 million to USD 418.42 billion.

As gold holdings do not reflect market prices, it remained unchanged at USD 4.79 billion.

As of the end of September, Korea was the ninth-largest holder of foreign reserves at USD 464 billion. (ANI/Global Economic)

( With inputs from ANI )

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