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S. Korea's foreign reserves keep record-breaking trend for 13 months

English.news.cn   2014-08-05 14:01:34

SEOUL, Aug. 5 (Xinhua) -- South Korea's foreign reserves maintained a record-breaking trend for 13 months in a row, raising the total reserves this year by more than 20 billion U.S. dollars, central bank data showed Tuesday.

Foreign reserves reached a new record high of 368.03 billion U. S. dollars at the end of July, up 1.48 billion dollars from a month earlier, according to the Bank of Korea (BOK).

The reserves continued to breach the prior record high since July 2013. For the first seven months of this year, the reserves grew by 21.57 billion dollars, higher than an increase of 19.49 billion dollars tallied in the entire year of 2013.

The foreign reserves have stayed above the 300-billion-dollar mark since April 2011 when it topped the level for the first time in the country's history.

The record-breaking trend was attributed to a rise in investment return. The central bank gained interest income from bond investment as well as capital gains by selling some holdings of bonds.

The nation's foreign reserves consisted of 335.59 billion dollars of securities, 21.72 billion dollars of deposits, 4.79 billion dollars of gold bullion, 3.48 billion dollars of special drawing rights and 2.45 billion dollars of International Monetary Fund positions.

Editor: yanting
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