SEOUL, July 3 (Xinhua) -- South Korea's foreign reserves grew for the third consecutive month to June as the weak U.S. dollar raised the conversion value of non-dollar assets, central bank data showed Friday.
Foreign currency reserves amounted to 410.75 billion U.S. dollars as of the end of June, up 3.44 billion dollars from a month earlier, according to the Bank of Korea (BOK).
The reserves increased by 3.77 billion dollars in April and 3.33 billion dollars in May each amid the weak dollar that expanded the conversion value of non-dollar assets.
Amid the COVID-19 outbreak across the world, the foreign exchange market saw a rise in volatility.
The country's foreign reserves were composed of 372.58 billion dollars of securities, 26.04 billion dollars of deposits, 4.79 billion dollars of gold bullion, 3.08 billion dollars of special drawing rights (SDR) and 4.25 billion dollars of IMF positions.
South Korea was the world's ninth-largest holder of foreign reserves as of end-May, unchanged from the previous month. Enditem
