SEOUL, Oct 4 (Reuters) - South Korea's foreign exchange reserves rose more than $4 billion in September to a record amount, data showed on Monday, after reports by traders of dollar-buying intervention by authorities.
Foreign exchange reserves held by Asia's fourth-largest economy rose $4.42 billion in September to $289.78 billion at the end of the month, the Bank of Korea said in a statement, without commenting on the talk of intervention.
The central bank attributed the rise to declines in dollar value against several other major currencies and to investment gains, without elaborating.
Currency traders have said the authorities bought dollars on several occasions during the month whenever the won rose sharply against the U.S. unit.
At the end of August, South Korea had the world's fifth largest foreign reserves after China, Japan, Russia and Taiwan.
(Reporting by Cheon Jong-woo; Editing by Yoo Choonsik and Sugita Katyal)
((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 2010. 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.
Foreign exchange reserves held by Asia's fourth-largest economy rose $4.42 billion in September to $289.78 billion at the end of the month, the Bank of Korea said in a statement, without commenting on the talk of intervention.
The central bank attributed the rise to declines in dollar value against several other major currencies and to investment gains, without elaborating.
Currency traders have said the authorities bought dollars on several occasions during the month whenever the won rose sharply against the U.S. unit.
At the end of August, South Korea had the world's fifth largest foreign reserves after China, Japan, Russia and Taiwan.
(Reporting by Cheon Jong-woo; Editing by Yoo Choonsik and Sugita Katyal)
((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 2010. 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.