SEOUL, April 4 (Reuters) - South Korea's foreign exchange
reserves rose to a record high in March, central bank data
showed on Monday, but a relatively small gain indicated
dollar-buying intervention was weak due to concerns about
inflation
Foreign current reserves in Asia's fourth-largest economy rose $0.95 billion during last month to a record $298.62 billion, the Bank of Korea said, attributing the rise to strength in non-dollar assets and investment gains.
The country's foreign reserves added $1.71 billion in February and $4.39 billion in January after reports by currency traders of the government's dollar-buying interventions aimed at smoothing the won's rise.
The finance ministry and the central bank do not comment on market talk of intervention.
South Korea's foreign reserves ranked seventh in the world at the end of February.
South Korea's foreign reserves (in $billion, at end-month):
March Feb Jan Dec Nov Oct Sept
298.62 297.67 295.96 291.57 290.23 293.35 289.78
(Reporting by Kim Yeonhee; Editing by Yoo Choonsik) Keywords: KOREA ECONOMY/RESERVES (yeonhee.kim@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2011. 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 current reserves in Asia's fourth-largest economy rose $0.95 billion during last month to a record $298.62 billion, the Bank of Korea said, attributing the rise to strength in non-dollar assets and investment gains.
The country's foreign reserves added $1.71 billion in February and $4.39 billion in January after reports by currency traders of the government's dollar-buying interventions aimed at smoothing the won's rise.
The finance ministry and the central bank do not comment on market talk of intervention.
South Korea's foreign reserves ranked seventh in the world at the end of February.
South Korea's foreign reserves (in $billion, at end-month):
March Feb Jan Dec Nov Oct Sept
298.62 297.67 295.96 291.57 290.23 293.35 289.78
(Reporting by Kim Yeonhee; Editing by Yoo Choonsik) Keywords: KOREA ECONOMY/RESERVES (yeonhee.kim@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2011. 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.