South Korea FX Reserves Rebound Above $443 Billion
The reserves had temporarily declined in September due to factors including entrusted assets related to investment in the United States, but recovered in October as returns on foreign currency asset management and foreign currency deposits at financial institutions increased.According to the Bank of
South Korea's foreign exchange reserves surged above the $443 billion mark in October, recovering from a temporary decline in September. The Bank of Korea reported that reserves reached $443.16 billion at the end of October, up $2.60 billion from $440.56 billion at the end of September. This represented a significant increase of $15.11 billion compared to the end of last year's reserves of $428.05 billion.
The upward trend continued throughout October, with deposits increasing by $6.32 billion, accounting for the bulk of the reserve growth. Securities, the core asset in the reserves, fell by $3.59 billion, but still made up 86.3% of the total assets. The share of deposits in total foreign exchange reserves rose to 8.2%, up from 6.8% in September.
Other assets, including Special Drawing Rights, the IMF reserve position, and gold holdings, remained relatively stable.
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