SEOUL, May 4 (Xinhua) — South Korea’s foreign reserves fell last month due to the lower conversion value of non-U.S. dollar assets, central bank data showed Wednesday.
Foreign currency reserves amounted to 449.3 billion U.S. dollars at the end of April, down 8.51 billion dollars from a month earlier, according to the Bank of Korea.
The strong U.S. dollar reduced the conversion value of non-dollar assets.
The dollar index, which measures the dollar value versus six major peers, gained 6.0 percent last month.
The country’s foreign reserves were composed of 408.83 billion dollars of securities, 16.25 billion dollars of deposits, 14.98 billion dollars of special drawing rights, 4.79 billion dollars of gold bullion and 4.45 billion dollars of the International Monetary Fund position.
South Korea was the world’s eighth-largest holder of foreign reserves at the end of March, unchanged from the prior month.