SEOUL, Oct 6 (Reuters) - South Korea's foreign exchange reserves rose for a seventh consecutive month in September to hit a 15-month high, posting their biggest monthly gain in four months, central bank data showed on Tuesday.
South Korea's foreign exchange reserves rose by $8.79 billion, the biggest monthly gain since a $14.3 billion rise in May, to $254.25 billion at the end of September, the largest amount since June 2008.
The reserves were lifted by investment gains, repayment of borrowings by local banks and the unwinding of a $640 million currency swap with the state-run pension agency, the Bank of Korea said in a statement.
The rise in the country's foreign reserves, ranked sixth largest in the world at the end of August, also came as currency market traders spotted dollar-buying intervention by the authorities to control the strengthening won.
South Korea's foreign reserves ($ billion, at end-month):
Sept Aug July June May April March
254.25 245.46 237.51 231.73 226.77 212.48 206.34
(Reporting by Cheon Jong-woo; Editing by Jonathan Hopfner)
((jongwoo.cheon@thomsonreuters.com; +82 2 3704 5665; Reuters Messaging;jongwoo.cheon.reuters.com@reuters.net)) Keywords: KOREA ECONOMY/RESERVES (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
South Korea's foreign exchange reserves rose by $8.79 billion, the biggest monthly gain since a $14.3 billion rise in May, to $254.25 billion at the end of September, the largest amount since June 2008.
The reserves were lifted by investment gains, repayment of borrowings by local banks and the unwinding of a $640 million currency swap with the state-run pension agency, the Bank of Korea said in a statement.
The rise in the country's foreign reserves, ranked sixth largest in the world at the end of August, also came as currency market traders spotted dollar-buying intervention by the authorities to control the strengthening won.
South Korea's foreign reserves ($ billion, at end-month):
Sept Aug July June May April March
254.25 245.46 237.51 231.73 226.77 212.48 206.34
(Reporting by Cheon Jong-woo; Editing by Jonathan Hopfner)
((jongwoo.cheon@thomsonreuters.com; +82 2 3704 5665; Reuters Messaging;jongwoo.cheon.reuters.com@reuters.net)) Keywords: KOREA ECONOMY/RESERVES (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.