The Bank of Korea reported that South Korea’s official foreign reserves increased by USD 2.6 billion in October to USD 443.2 billion. Growth in deposits more than offset a decline in securities holdings. Deposits rose by USD 6.3 billion to USD 36.3 billion, accounting for 8.2% of reserves. Securities declined by USD 3.6 billion to USD 382.4 billion but remained the largest component at 86.3%. The remaining reserves comprised USD 15.4 billion in special drawing rights, USD 4.8 billion in gold and USD 4.3 billion in the country’s International Monetary Fund position.
Bank of Korea reports USD 2.6 billion rise in foreign reserves to USD 443.2 billion in October
The Bank of Korea reported official foreign reserves of USD 443.2 billion at the end of October, an increase of USD 2.6 billion from September. Deposits grew by USD 6.3 billion, outweighing a USD 3.6 billion decline in securities, which still accounted for 86.3% of reserves.