Foreign exchange reserves hit record high in July

The country's foreign exchange reserves rose to a record high of US$329.71 billion as of the end of July, the central bank said Monday.

The figure represents an increase of $3.27 billion from a month earlier, according to the Bank of Korea (BOK).

It beat the previous record of $328,91 billion last January, the BOK said.

The foreign exchange reserves reached $328.80 billion in April, $328.10 billion in May and $326.44 billion in June.

Securities took the lion's share of $301.34 billion or 91.4 percent of the total foreign exchange reserves in July, followed by deposits ($17.55 billion or 5.3 percent) and gold ($4.79 billion or 1.5 percent), the central bank said.

By Ayaka Erin Tobari

Park Sae-jin swatchsjp@ajunews.com