À̹ÌÁö È®´ë [Photo by Lee Seung-hwan]
South Korea¡¯s foreign exchange reserves fell for the first time in five months in November, snapping a four-month-long record-breaking streak, due to a decline in the dollar-converted value of foreign currencies and foreign currency deposits.
According to data released by the Bank of Korea on Friday, the country¡¯s foreign exchange reserves reached $463.91 billion as of the end of November, down $5.3 billion from an all-time high of $469.21 billion in the end of October.
Korea¡¯s foreign exchange reserves had recorded new highs since July when reserves reached $458.68 billion. In August, the figure stood at $463.93 billion and in September, $463.97 billion.
À̹ÌÁö È®´ë [Source: Bank of Korea]
The central bank attributed a decline in the U.S. dollar value of foreign-denominated currencies and foreign currency deposits held by financial institutions to the fall in foreign exchange reserves in November.
Securities gained $2.52 billion on month to $420.94 billion in November while deposits declined $7.6 billion to $18.19 billion. International monetary Fund (IMF) position, or reserve tranche purchases a member may claim from the IMF, fell $50 million to $4.63 billion, and special drawing rights (SDR) from the IMF fell $170 million to $15.35 billion.
Gold holdings remained unchanged at $4.79 billion.
Korea was the eighth-largest holder of foreign exchange reserves as of end of October. China was the largest holder with $3.2 trillion, followed by Japan with $1.4 trillion, and Switzerland with $1.08 trillion.
By Lee Eun-joo
[¨Ï Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]