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FX.co ★ South Korea’s gold holdings reach another record

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Forex Humor:::2014-08-08T14:50:00

South Korea’s gold holdings reach another record

Foreign exchange reserves of the Republic of Korea posted an increase for the thirteenth month in a row in July. Thus, at the beginning of August, the figure hit a new record high at $368.03 billion, up $1.48 billion from the prior month, an official representative of the Korean central bank said today.
The South Korean central bank named proper reserve management, asset management, shares in particular, and a prices hike in non-U.S. dollar securities and deposits among the major factors contributing to the growth. The country’s foreign exchange reserves consist of securities and deposits, the reserve positions of the International Monetary Fund, special drawing rights, and gold bullion.
In terms of volume, South Korea occupies the seventh place in the world after China, Japan, Saudi Arabia, the United States, Russia, Taiwan, and Brazil. Russia's international reserves are $472.4 billion as of July 25, 2014.

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