S. Korea's foreign reserves rise for 3rd month in August
SEOUL, Sept. 3 (Xinhua) -- South Korea's foreign reserves rose for the third straight month due to higher conversion value of the non-U.S. dollar assets, central bank data showed Wednesday.
Foreign currency reserves mounted 4.95 billion U.S. dollars from a month earlier to 416.29 billion dollars at the end of August, continuing to go up since June, according to the Bank of Korea.
The consecutive growth was attributed to an increased investment income and higher conversion value of the non-dollar assets, caused by the weak U.S. currency. ■
