Bank of Korea plans to diversify reserves

South Korea's central bank has said it plans to diversify its reserves, which are the world's fourth largest, into a greater variety of currencies. It's reserves have traditionally been held in U.S. Treasuries and agency debt.

The Bank of Korea, which has a total of $200 billion in reserves, said in a report to a parliamentary committee it will increase investments in assets denominated in currencies such as the Australian and Canadian dollars. The country's reserves are the world's fourth-big