ZCZC
BCN-17
S.KOREA-FOREIGN-RESERVE
S.Korea’s foreign reserves fall in October on strong U.S. dollar
SEOUL, Nov. 5, 2018 (BSS/Xinhua) – South Korea’s foreign currency reserves
slightly fell last month as the strong U.S. dollar reduced the conversion
value of non-dollar assets, central bank data showed Monday.
Foreign reserves amounted to 402.75 billion U.S. dollars as of end-
October, down 0.25 billion dollars from a month earlier, according to the
Bank of Korea.
The decline was attributed to the strong dollar, which pulled down the
conversion value of non-dollar assets.
The European currency depreciated 2.5 percent versus the greenback, with
the British pound sliding 2.8 percent to the dollar.
The Japanese yen rose 0.3 percent against the dollar, but the Australian
dollar shed 1.4 percent to the dollar.
The country’s foreign reserves were composed of 375.78 billion dollars of
securities, 16.71 billion dollars of deposits, 4.79 billion dollars of gold
bullion, 3.46 billion dollars of special drawing rights and 2 billion dollars
of IMF positions.
South Korea was the world’s eighth-largest holder of foreign reserves as
of September.
BSS/AFP/HR/1045