South Korean foreign reserves rose to a record high in July

South Korea’s official foreign reserves reached a record high in July because of a rise in the value of non-dollar currencies when converted into the U.S. dollar, showed the Bank of Korea data. At the end of July, the nation’s official foreign reserves reached USD 383.8 billion.

The South Korean official foreign reserves consisted of securities valued at USD 354.6 billion, deposits of USD 19.4 billion, SDRs of USD 3.3 billion and the country’s IMF reserve position of USD 1.7 billion, gold of USD 4.8 billion.

South Korea’s foreign reserve holdings ranked the ninth largest in the world as of the end of June 2017, stated the Bank of Korea.