Seoul, Nov 5
South Korea's foreign reserves fell in October, snapping three consecutive months of rise due to the decreased value of non-US dollar assets amid a strong US dollar and decreased deposits, central bank data showed on Tuesday.
The country's foreign reserves came to $415.69 billion as of end-October, down $4.28 billion from a month earlier, according to the data from the Bank of Korea (BOK).
The central bank attributed the fall to a decline in the converted value of non-dollar assets amid the strong greenback and a decline in deposits, reports news agency.
The dollar index that gauges the greenback's value against major peers rose 3.6 percent last month, shedding the converted value of non-dollar assets, the central bank said.
Foreign reserves consist of securities and deposits denominated in overseas currencies, International Monetary Fund reserve positions, special drawing rights and gold bullion.
Foreign securities, such as U.S. Treasuries, were valued at $373.25 billion as of end-October, down $50 million from a month earlier. They accounted for 89.8 percent of foreign reserves, the data showed.
The value of deposits stood at $18.42 billion at the end of October, down $3.86 billion over the cited period.
South Korea ranked as the world's ninth-largest holder of foreign reserves at the end of September, the BOK said.