The Bank of Korea said on July 3 that the country's foreign reserves reached $427.36 billion at end-June, up $370 million from a month earlier and reversing a May decline.
The Bank of Korea attributed the increase to a $920 million rise in foreign currency deposits held by financial institutions, despite stabilization steps such as foreign exchange swaps with the National Pension Service.
Foreign securities fell $330 million to $380.34 billion and accounted for 89 percent of total reserves. Special drawing rights decreased $140 million.
The Korean won traded above 1,500 per dollar throughout June and closed at 1,549.4 on June 30, the weakest level since March 6, 2009.
South Korea ranked as the world's 13th-largest holder of foreign reserves at end-May, down one place from April. China, Japan, Switzerland, Russia and India led the list.
