[
THE INVESTOR] Korea’s foreign exchange reserves hit a record high in May due to a hike in the value of non-dollar currencies when converted into the US greenback, central bank data showed on June 5.
As of the end of May, the country’s forex reserves came to US$378.46 billion, up US$1.89 billion from the previous month, the Bank of Korea said in a statement.
The country’s reserve position at the IMF stood at US$1.76 billion as of the end of May, compared with US$1.74 billion a month earlier.
Holdings in gold bullion remained unchanged at US$4.79 billion during the same period, the statement said.
By Alex Lee and newswires (
alexlee@heraldcorp.com)