Bank of Korea says FX reserves reach $116.69bn

KOREA - The Bank of Korea (BOK) announced yesterday that Korea's foreign exchange reserves stood at $ 116.69 billion as of the end of September 2002, increasing by $ 150 million from the end of August.

The increase in foreign exchange reserves, the Korea Times reported, was mainly attributable to operating gains and a decrease in the value of yen- and euro-denominated assets when converted into the U.S. dollar, the central bank said.

As of the end of August, Korea holds the fourth largest amoun

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