South Korea’s foreign currency reserves hit a new record high for the second straight month.
According to The Bank of Korea’s announcement on Thursday, South Korea’s foreign reserves totaled $298 billion at the end of February, up $1.7 billion from the previous high of $296 billion in January.
New record was attributed to higher operating profits on the reserves and gains in the euro and pound against U.S. dollar.
That led to an increase in the dollar value of the reserves denominated in the European and British currencies, respectively.
As Asian countries lead the world in reserve holding, South Korea’s also hit a series of records in 2010.
(아주경제 송지영 기자)
According to The Bank of Korea’s announcement on Thursday, South Korea’s foreign reserves totaled $298 billion at the end of February, up $1.7 billion from the previous high of $296 billion in January.
New record was attributed to higher operating profits on the reserves and gains in the euro and pound against U.S. dollar.
That led to an increase in the dollar value of the reserves denominated in the European and British currencies, respectively.
As Asian countries lead the world in reserve holding, South Korea’s also hit a series of records in 2010.
(아주경제 송지영 기자)
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