emirates7 - The Republic of Korea's foreign reserves rose for the second consecutive month in July due to the issuance of foreign exchange stabilisation bonds, the central bank said Wednesday.
The country's foreign reserves stood at US$427.95 billion as of end-July, up $590 million from a month earlier, Yonhap News Agency reported, citing data from the Bank of Korea (BOK). The reading followed a $370 million on-month gain in June.
The BOK attributed the monthly increase to issuance of foreign exchange stabilisation bonds and a rise in the US-denominated value of foreign currency deposits amid market stabilisation measures.
The value of foreign currency deposits rose $860 million to $23.13 billion, while special drawing rights (SDRs) rose $60 million to $15.7 billion.
Gold bullion holdings remained unchanged at $4.79 billion.
The country's foreign reserves stood at US$427.95 billion as of end-July, up $590 million from a month earlier, Yonhap News Agency reported, citing data from the Bank of Korea (BOK). The reading followed a $370 million on-month gain in June.
The BOK attributed the monthly increase to issuance of foreign exchange stabilisation bonds and a rise in the US-denominated value of foreign currency deposits amid market stabilisation measures.
The value of foreign currency deposits rose $860 million to $23.13 billion, while special drawing rights (SDRs) rose $60 million to $15.7 billion.
Gold bullion holdings remained unchanged at $4.79 billion.
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