Data from the South Korean central bank showed that South Korea's foreign exchange reserves rose to a new record high in July 2021, as dollar weakness boosted the value of non-dollar assets.
According to Yonhap News Agency, South Korea's foreign exchange reserves reached $458.7 billion at the end of last month, an increase of $4.58 billion over the previous month.
Foreign reserves consist of securities, deposits denominated in foreign currencies, special drawing rights, reserve position with the International Monetary Fund, and gold bullion.
The value of foreign securities amounted to 414.9 billion dollars at the end of last July, a decrease of 4.44 billion dollars from the previous month, which represents 90.5% of foreign exchange reserves.
But the value of foreign currency-denominated deposits rose by $8.92 billion to $30.8 billion, and the value of gold bullion owned by the central bank remained unchanged at $4.79 billion.
At the end of last June, South Korea had the eighth largest foreign exchange reserves in the world.
