Despite weak won and strong dollar, foreign exchange reserves recover to $430 billion for the first time in about three years - South Korean report

As of the end of last month, South Korea's foreign exchange reserves had increased for six consecutive months, supported by increased investment income and other factors, and had recovered to $430 billion (approximately 67 trillion yen) for the first time in about three years. South Korea's foreign exchange reserves are the world's largest.
According to the Bank of Korea, South Korea's foreign exchange reserves as of the end of November were $430.66 billion, up $1.84 billion (approximately 286 billion yen) from the end of October.
It has recovered to the 430 billion dollar range for the first time in three years and three months since August 2022. Last month, the dollar/won exchange rate remained in the high 1,400 won range (approximately 148.53 yen), and
Although it was revealed that there were days of large fluctuations and that the foreign exchange authorities had made minor adjustments and other market interventions, the amount of foreign currency holdings actually increased due to an increase in investment income.
According to Doctor, as of the market closing price (3:30 p.m.), the average exchange rate for last month was 1,460.44 won (approximately 155.04 yen).
A Bank of Korea official said, "The increase in investment income and foreign currency deposits by financial institutions is the reason for the increase in foreign currency reserves.
The company explained that the main reasons for this are that "foreign stocks have been performing well, and interest on held bonds with high interest rates is contributing to investment income."
The dollar index, which measures the value of the US dollar relative to the currencies of major countries, was at 99.
54, almost unchanged from the previous month (99.53). Among other currencies, the Japanese yen had the largest decline in value compared to the US dollar at 1.4%, followed by the Australian dollar (minus 0
The British pound (0.6%) and the euro (0.3%) rose slightly. Securities, which account for the largest proportion of foreign exchange reserves, were worth $379.35 billion (about 59 trillion yen).
100 billion yen / 88.1%), an increase of $1.39 billion (approximately 216 billion yen) from the previous month, and deposits were $26.43 billion (approximately 4.1 trillion yen), an increase of $490 million (approximately
Special Drawing Rights (SDR) increased by $20 million (approximately ¥3.1 billion) to $15.74 billion (approximately ¥2.45 trillion), and the International Monetary Fund (IMF) position increased by 4
The value of gold was $4.79 billion, the same level as before.
As of the end of October, South Korea's foreign exchange reserves stood at $428.8 billion (approximately ¥66.8 trillion), making it the ninth largest in the world. China came in first ($3.3433 trillion/approximately ¥521 trillion), and Japan came second.
In third place was Switzerland ($1.513 trillion), and in eighth place was Saudi Arabia ($442.4 billion).