SEOUL– South Korea’s foreign reserves kept a record-breaking trend last month, due to an increased return on investment, central bank data showed, today.

Foreign currency reserves hit a new high of 463.97 billion U.S. dollars, as of the end of Sept, topping the prior high of 463.93 billion dollars, tallied a month earlier, according to the Bank of Korea (BOK).

The strong U.S. dollar reduced the conversion value of non-dollar assets, but it was offset by the higher investment return of the foreign reserves.

The country’s foreign reserves composed of 419.35 billion dollars of securities, 19.85 billion dollars of deposits, 4.79 billion dollars of gold bullion, 15.38 billion dollars of special drawing rights (SDR) and 4.6 billion dollars of IMF position.

South Korea was the world’s eighth-largest holder of foreign reserves, at the end of Aug, unchanged from the previous month.

Source: NAM NEWS NETWORK