S. Korea's foreign reserves continue to rise in July

Seoul [South Korea], August 3: South Korea's foreign reserves rose for the second successive month in July on higher conversion value of non-U.S. dollar assets, central bank data showed Thursday.
Foreign currency reserves came to 421.80 billion U.S. dollars at the end of July, an increase of 0.35 billion dollars from a month earlier, according to the Bank of Korea (BOK).
It was attributed to the weaker dollar that increased the conversion value of non-dollar assets.
The dollar index, which gauges the dollar value versus six major peers, declined 1.7 percent last month.
The country's foreign reserves were composed of 376.53 billion dollars of securities, 20.96 billion dollars of deposits, 14.81 billion dollars of special drawing rights, 4.79 billion dollars of gold bullion and 4.71 billion dollars of the IMF position.
South Korea was the world's eighth-largest holder of foreign reserves at the end of June, up 1 notch from a month earlier.
Source: Xinhua