Korea’s foreign reserves hit new high in October

South Korea’s foreign reserves hit a new high in October led by high investment profits, according to the nation’s central bank.

The Bank of Korea announced on Monday that the nation’s foreign reserves reached $323.46 billion in October, which is an increase of $1.45 billion compared to the previous month.

Foreign reserves marked $316.84 billion in April and $316.88 billion in August.

“The growth of investment profits brought up the reserves despite the marginal fall of the dollar conversion value of euro and yen due to conversion fluctuations,” said the central bank’s spokesperson said in a statement.

Among the reserves in October, securities took up $296.56 billion, up by $2.32 billion compared to the previous year. Deposits decreased by $0.74 billion to $17.69 billion.

By Park Min-young  (claire@heraldcorp.com)