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Oil Prices Set for Steep Weekly Losses as Hormuz Deal Stalls 
US Job Growth Seen Picking Up in July 
Canada, US Hold Constructive Trade Talks as Tariff Negotiations Continue 
Asian Currencies Steady as Markets Await U.S. Jobs Data 
Asian Stocks Rise as Weak US Jobs Data Eases Fed Rate Hike Bets 
RBI Holds Repo Rate at 5.25% as Inflation Risks and Global Uncertainty Persist 
South Korea’s foreign exchange reserves reached a record high of $410.75 billion in June, having gained $3.44 billion from May due to profits and investment returns from overseas assets and a weak dollar.
The June increase marked a third consecutive month of gain after a $3.33 billion hike in May and $3.77 billion in April.
In March, the forex shed $9 billion.
Government bonds and corporate debts surged by $6.88 billion on-month in June to reach $372.58 billion.
Foreign currency deposits slipped by $3.97 billion to $26.04 billion in the said period.
The country posted special drawing rights of $4.25 billion in June, up by $260 million on-month.
Meanwhile, its gold holdings remained flat at $4.79 billion.
South Korea ranked No. 9 globally in the size of foreign reserves, as of June.
China had the most at $3.1 trillion, followed by Japan and Switzerland, with $1.38 trillion and $912 billion.
The Bank of Korea intends to put up a US dollar funding scheme to create a cushion for the liquidity risks of insurers and brokerages that use forex reserves.
Under the scheme, short-term dollar loans would be offered through repurchase agreements, swapping US treasuries for dollar via auctions.
