S. Korea for­eign re­serves in­crease

China Daily (Hong Kong) - - BUSINESS -

South Korea’s for­eign cur­rency re­serves kept a record-break­ing mo­men­tum for the sec­ond con­sec­u­tive month due to a con­tin­ued re­turn on for­eign cur­rency as­sets and a higher con­ver­sion value of non-US dol­lar as­sets, cen­tral bank data showed on Wed­nes­day. The for­eign re­serves reached a record high of $380.57 bil­lion as of end-June, top­ping $380 bil­lion for the first time, ac­cord­ing to the Bank of Korea. It was up $2.11 bil­lion from a month ear­lier, main­tain­ing a record-break­ing trend for the sec­ond con­sec­u­tive month. For the first six months of this year, the for­eign re­serves in­creased by $9.47 bil­lion.

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