S. Korea’s foreign reserves hit $415.9b in August ’24

South Korea’s official foreign reserves stood at $415.9 billion as of the end of August 2024 compared to $413.5 billion in the previous month, according to latest figures published by the Bank of Korea (BOK) on Wednesday.

This figure reflects a diverse composition of assets: securities accounted for $369.4 billion, or 88.8 per cent of the total reserves. Deposits represented $22.0 billion, making up 5.3 per cent of the reserves.

Additionally, Special Drawing Rights (SDRs) reached $15.2 billion, or 3.7 per cent, while gold holdings were valued at $4.8 billion, or 1.2 per cent, and the country’s position with the IMF was $4.4 billion, which constitutes 1.1 per cent of the reserves.

As of the end of July 2024, South Korea’s foreign reserve holdings ranked as the ninth largest in the world.

Attribution: Bank of Korea report

Subediting: M. S. Salama