The Bank of Korea on Nov. 3 said in a monthly report on its foreign currency holdings that foreign exchange reserves reached USD 469.21 billion. (Yonhap News)

By Yoon Hee Young

Foreign exchange reserves last month rose USD 5.2 billion to reach a record high for the fourth consecutive month.

The Bank of Korea on Nov. 3 said in a monthly report on its foreign currency holdings that the latter's value reached USD 469.21 billion in late October.

The figure saw a rise of USD 5.24 billion from that in late September of USD 463.97 billion.

Foreign currency holdings have set a record high every month since July, which started the streak with USD 458.68 billion.

The central bank said the rise was thanks to the increase in the value of other foreign currencies when converted into USD, issuance of foreign exchange stabilization bonds, foreign currency deposits in financial institutions and revenue from foreign currency assets.

By asset type, securities accounted for 89.2% of the reserves with USD 418.42 billion, deposits 5.5% with USD 25.79 billion, special drawing rights 3.3% with USD 15.52 billion, gold holdings 1% with USD 4.79 billion and the International Monetary Fund (IMF) position 1% with USD 4.68 billion.

The position is a claim held by the IMF's member countries composed of the reserve tranche position and loans.

As of late September, Korea was ninth in the world in foreign currency holdings. China topped the list with USD 3.20 trillion, followed by Japan with USD 1.41 trillion and Switzerland USD 1.08 trillion.

hyyoon@korea.kr