Seoul: South Korea’s foreign reserves rose for the third consecutive month in August, led by the increased value of non-US dollar assets and increased investment returns. The country’s foreign reserves stood at US$416.29 billion as of end-August, up $4.95 billion from a month earlier, according to the data from the Bank of Korea (BOK).

According to Qatar News Agency, the end-August tally marks the highest since September 2024, when the figure stood at $419.97 billion. The central bank noted that an increase in the value of non-dollar assets due to a weakening of the greenback, along with a rise in investment returns, helped increase the foreign reserves. The dollar index fell 2% last month.

Foreign securities, such as US Treasuries, were valued at $366.1 billion as of end-August, accounting for 88% of foreign reserves. The value of foreign currency deposits amounted to $25 billion, while special drawing rights (SDRs) came in at $15.78 billion. Gold bullion remained unchanged at $4.79 billion.

The country’s International Monetary Fund (IMF) reserve positions gained 1.12% from a month earlier to $4.54 billion at end-August, the data showed. South Korea ranked as the world’s 10th-largest holder of foreign reserves at end-July.