By Israeli Shelling
Seoul, July 03 (QNA) – South Korea’s foreign reserves rebounded in June from the lowest level in five years, central bank in South Korea data showed Thursday.
The country’s foreign reserves stood at US$410.2 billion as of end-June, up $5.61 billion from a month earlier, according to the data from the Bank of Korea (BOK).
It marked the largest amount since January when the foreign reserves amounted to $411.01 billion.
The figure had declined for two consecutive months since April, reaching the lowest level since April 2020, when foreign reserves stood at $403.98 billion, according to South Korea’s (Yonhap) News Agency.
Last month’s increase was attributed to a rise in the US dollar-converted value of foreign currency assets denominated in other currencies due to a weaker dollar, as well as higher investment returns, the BOK said.
Foreign securities, such as US Treasuries, were valued at $358.5 billion as of end-June, up $1.47 billion from a month earlier.
The value of deposits rose 6.5 percent on-month to $26.54 billion over the cited period.
South Korea ranked as the world’s 10th-largest holder of foreign reserves at end-May. (QNA)