The Bank of Korea's foreign currency reserves last month rose almost USD 5 billion thanks to a weaker greenback. (Yonhap News) 

By Kang Gahui

The nation's foreign currency reserves last month rose nearly USD 5 billion thanks to a weaker greenback.

The Bank of Korea on Sept. 3 released related data saying the figure for August reached USD 416.29 billion, up USD 4.95 billion from July. The amount dropped to its lowest level in five years in May but began a three-month rise in June.

"Thanks to a weaker USD, the dollar value of other foreign currency assets increased," the central bank said. "Operating income also rose."

Securities accounted for 88% of the amount with USD 366.16 billion, deposits 6% with USD 25 billion, gold holdings 1.2% with USD 4.79 billion, reserve positions of the International Monetary Fund (IMF) 1.1% with USD 4.54 billion and the IMF's special drawing rights 3.8% with USD 15.78 billion.

As of July, the nation ranked 10th worldwide in foreign exchange reserves. China was first with USD 3.29 trillion, Japan second with USD 1.30 trillion and Switzerland third with USD 1.52 trillion.

kgh89@korea.kr