FX reserves reach nine month high

Home > Business > Economy

print dictionary print

FX reserves reach nine month high


Korean foreign-exchange reserves have climbed again to reach new heights for the ninth consecutive month, according to the Bank of Korea.

Foreign reserves as of March were $354.3 billion, $2.5 billion more than the previous month, the central bank said yesterday. The nation’s foreign reserves have been continuously surpassing their all-time record since July last year when holdings amounted to $329.7 billion.

The central bank attributed the ongoing expansion of its foreign-exchange reserves largely to an increase in profits from foreign asset management.

Last month, the central bank’s securities holdings, which account for 91 percent of the total foreign reserves, added $520 million to make up a total of $323.4 billion in securities. Deposits, which make up the second-largest portion of the foreign reserves with 5.7 percent, added $2.1 billion to make $20.2 billion. Gold, which represents 1.4 percent of foreign reserves, remained unchanged at just short of $4.8 billion.

BY lee ho-jeong [ojlee82@joongang.co.kr]

Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)

What’s Popular Now