Korea’s foreign exchange reserves hit a fresh record high in November, central bank data showed on Dec. 5.
The total value of the country’s forex reserves reached US$387.25 billion as of the end of November, up US$2.79 billion from the previous month, the Bank of Korea said in a statement.
The figure marks the largest monthly total and exceeds the earlier record of US$384.84 billion set in August.
The BOK said that the recent depreciation of the US dollar increased the value of non-dollar currencies when converted into the greenback.
The country’s reserve position at the IMF stood at US$1.63 billion at the end of November, compared with US$1.69 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 (firstname.lastname@example.org