FX reserves reach nine month high
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 [firstname.lastname@example.org]