Asia's fourth largest economy, South Korea holds gold bullion worth
$2.17 billion at the end of April, according to country's central bank.
SEOUL(BullionStreet): Asia's fourth largest economy, South Korea holds gold bullion worth $2.17 billion at the end of April, according to country's central bank.
In a statement, Bank of Korea (BOK) said country's foreign reserves reached a new high of $316.84 billion as of the end of April, up $890 million from a month earlier.
The April figure surpassed the previous record high for three straight months. The reserves breached the $300 billion mark for the first time in April last year.
The BOK attributed the April growth to an increase in investment profits and a growth in conversion value of non-dollar denominated assets such as the British pound and the Japanese yen.
The country's foreign reserves also consisted of $284.62 billion of securities, $23.83 billion of deposits, $3.55 billion of special drawing right (SDR) and $2.67 billion of International Monetary Fund (IMF) positions.
As of end-March, Korea had the seventh-largest foreign reserve in the world, according to the BOK. China, Japan and Russia ranked in the top three, with Taiwan, Brazil and Switzerland coming in ahead of Korea.
SEOUL(BullionStreet): Asia's fourth largest economy, South Korea holds gold bullion worth $2.17 billion at the end of April, according to country's central bank.
In a statement, Bank of Korea (BOK) said country's foreign reserves reached a new high of $316.84 billion as of the end of April, up $890 million from a month earlier.
The April figure surpassed the previous record high for three straight months. The reserves breached the $300 billion mark for the first time in April last year.
The BOK attributed the April growth to an increase in investment profits and a growth in conversion value of non-dollar denominated assets such as the British pound and the Japanese yen.
The country's foreign reserves also consisted of $284.62 billion of securities, $23.83 billion of deposits, $3.55 billion of special drawing right (SDR) and $2.67 billion of International Monetary Fund (IMF) positions.
As of end-March, Korea had the seventh-largest foreign reserve in the world, according to the BOK. China, Japan and Russia ranked in the top three, with Taiwan, Brazil and Switzerland coming in ahead of Korea.
