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South Korea's forex reserves hit new high
The Bank of Korea has announced that South Korea's foreign exchange reserves experienced the largest monthly increase in its history, reaching $442.28 billion by the end of August, an increase of $14.33 billion compared to the previous month. This rise is attributed to an increase in financial institution deposits and foreign assets in dollars, with the value of foreign securities increasing by $7.07 billion to $387.07 billion, accounting for 87.5% of total reserves. Additionally, foreign currency deposits rose by $7.17 billion, while gold reserves remained steady at $4.79 billion.
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