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Sovereign Wealth Funds Briefing - Categorized | Reserve Currencies

S. Korea’s FX reserves hit new high in August

Posted on 05 September 2012

South Korea’s foreign reserves rose to a fresh high in August as investment profit gained and a weaker dollar boosted the conversion value of non-dollar assets, the central bank said Wednesday.
The country’s foreign reserves reached US$316.88 billion as of the end of August, up $2.53 billion from the previous month, according to the Bank of Korea (BOK). The foreign reserves’ previous record high came in April when they hit $316.84 billion. In July, the BOK increased its gold holdings to 70.4 tonnes, its first purchase this year. The bank bought gold twice last year, marking the first purchase in 13 years……………………………………..Full Article: Source


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