June 4, 2017 / 9:00 PM / 8 months ago

South Korea end-May reserves hit record on management gains

    SEOUL, June 5 (Reuters) - South Korea's foreign exchange
reserves rose for a third consecutive month to a record high of
$378.46 billion in May, as a broad decline in the U.S. currency
boosted the dollar value of other currencies in its portfolio,
the central bank said on Monday.
    In April, forex reserves were at $376.57 billion. Foreign
exchange reserves in total held by the Bank of Korea rose by
$1.89 billion in May.
    The Bank of Korea attributed the rise to gains from reserve
portfolio management as well as a broad decline in the
greenback, boosting the value of other currencies in its
reserves when converted into dollars.
    The central bank does not provide breakdowns of its currency
    South Korea had the world's eighth largest foreign exchange
reserves as of April this year.

    South Korean foreign reserves (in $ bln, at month-end,
 May     April   March   Feb     Jan     Dec     Nov     Oct
 378.46  376.57  375.30  373.91  374.04  371.10  371.99  375.17
 (Reporting by Dahee Kim; Editing by Shri Navaratnam)
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