S.Korea's foreign reserves rise to 403 bln USD in November

Source: Xinhua| 2018-12-05 13:28:28|Editor: Li Xia
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SEOUL, Dec. 5 (Xinhua) -- South Korea's foreign currency reserves rose to 403 billion U.S. dollars in November due to the weak dollar trend that increased the conversion value of non-dollar assets, central bank data showed on Wednesday.

Foreign reserves amounted to 403 billion U.S. dollars as of the end of November, up 0.24 U.S. billion dollars from a month earlier, according to the Bank of Korea (BOK).

The growth was attributed to the dollar weakness that raised the conversion value of the non-dollar assets such as the European single currency.

The dollar index, which gauges the greenback's value against six major peers such as the euro, the British pound and the Japanese yen, declined 0.2 percent last month.

The country's foreign reserves were composed of 376.25 billion U.S. dollars of securities, 16.53 billion U.S. dollars of deposits, 4.79 billion U.S. dollars of gold bullion, 3.41 billion U.S. dollars of special drawing rights and 2 billion U.S. dollars of IMF positions.

South Korea was the world's eighth-largest holder of foreign reserves as of October.