emirates7 - South Korea’s foreign reserves increased for a second straight month in July, driven by higher investment returns and the issuance of new foreign exchange stabilization bonds, the Bank of Korea reported on Tuesday.
As of the end of July, the nation’s foreign reserves reached US$411.33 billion, rising by $1.13 billion compared to the previous month, according to central bank data.
This marks the second month in a row of gains, following a rebound in June after reserves had dropped to their lowest point in nearly five years, Yonhap News Agency noted.
The data also showed that the country's reserve position with the International Monetary Fund (IMF) rose by 1.12 percent, totaling $4.52 billion at the end of July.
As of the end of July, the nation’s foreign reserves reached US$411.33 billion, rising by $1.13 billion compared to the previous month, according to central bank data.
This marks the second month in a row of gains, following a rebound in June after reserves had dropped to their lowest point in nearly five years, Yonhap News Agency noted.
The data also showed that the country's reserve position with the International Monetary Fund (IMF) rose by 1.12 percent, totaling $4.52 billion at the end of July.