Final month’s overseas trade reserves elevated by almost $7 billion resulting from elevated operational beneficial properties and the issuance of overseas trade stabilization bonds.
Based on the Financial institution of Korea on Nov. 5, overseas trade reserves as of the top of October stood at $428.82 billion, a rise of $6.8 billion from the earlier month. This marks the very best degree since January 2023 ($429.967 billion), representing a 2-year, 9-month excessive. International trade reserves hit a roughly 5-year low of $404.6 billion on the finish of Might, however have been growing since June, marking 5 consecutive months of progress by means of final month.
A Financial institution of Korea official defined, “International trade reserves elevated resulting from elevated operational beneficial properties and new issuance of overseas currency-denominated overseas trade stabilization bonds.”
International trade reserves have been composed of securities at $377.96 billion (88.1%), deposits at $25.94 billion (6.0%), SDR at $15.71 billion (3.7%), gold at $4.79 billion (1.1%), and IMF place at $4.41 billion (1.0%).
As of the top of September, South Korea’s overseas trade reserves ranked ninth globally, transferring up one place from the earlier month. Hong Kong, which beforehand held ninth place, dropped one place. China, Japan, Switzerland, Russia, India, Taiwan, Germany, and Saudi Arabia ranked 1st by means of eighth respectively.
