South Korea’s Foreign Exchange Reserves Rise for Third Consecutive Month

Seoul: South Korea's foreign exchange reserves rose for the third consecutive month in August, supported by a rise in the value of assets denominated in currencies other than the US dollar and increased investment returns. According to Yemen News Agency, the Bank of Korea stated in a report that foreign reserves reached $416.29 billion at the end of August, marking a $4.95 billion increase from the previous month and the highest level since September 2024, when it reached $419.97 billion. The bank highlighted that the weaker US dollar contributed to the rise in the value of assets denominated in other foreign currencies, while investment returns also supported this increase. It was noted that the dollar index fell 2% in August. Data released by the bank showed that the value of foreign securities, such as US Treasury bonds, reached $366.1 billion, representing 88% of total reserves. Foreign currency deposits reached $25 billion, and special drawing rights stood at $15.78 billion. The value of gold remained stable at $4.79 billion. Furthermore, the country's reserves with the International Monetary Fund rose by 1.12% month-on-month, reaching $4.54 billion by the end of last August. Globally, South Korea ranked tenth in terms of foreign exchange reserves at the end of last July.