S.Korea's foreign reserves hit record high in April


A health worker socially distances people waiting in line at a temporary Covid-19 testing station set up outside Yongsan Station in Seoul, South Korea, on Tuesday, April 27, 2021. South Korea's foreign reserves hit a record high last month as weak US dollar increased the conversion value of non-dollar assets, central bank data showed Thursday. (May 6). - Reuters

SEOUL, May 6 (Xinhua): South Korea's foreign reserves hit a record high last month as weak US dollar increased the conversion value of non-dollar assets, central bank data showed Thursday.

Foreign currency reserves reached US$452.31 billion as of the end of April, up 6.18 billion dollars from a month earlier, according to the Bank of Korea (BOK).

It topped the previous high of US$447.56 billion tallied in February as the greenback's depreciation raised the conversion value of non-dollar assets such as the European single currency, the British pound and the Japanese yen.

The dollar index, which measures the dollar value versus six major peers, declined 2.9 per cent last month.

The country's foreign reserves were composed of US$412.07 billion dollars of securities, US$27.22 billion dollars of deposits, US$4.79 billion dollars of gold bullion, US$3.53 billion of special drawing rights (SDR) and US$4.69 billion dollars of IMF position.

South Korea was the world's ninth-largest holder of foreign reserves as of the end of March, down one notch from a month earlier. - Xinhua
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