South Korea’s foreign exchange reserves hit a record high in May after increasing for the third consecutive month since February.
 
The Bank of Korea said that the nation’s foreign reserves stood at more than 378-point-four billion U.S. dollars last month, up one-point-89 billion dollars from April.
 
It marks the highest figure ever recorded, since a record high of 377-point-77 billion dollars in September last year.
  
The central bank attributed the growth to gains from foreign currency-denominated assets and a weak U.S. dollar.
 
As of late April, South Korea were the eighth largest holder of foreign exchange in the world. China’s foreign reserves remained the largest, growing by over 20 billion dollars month-on-month to nearly three-point-three trillion dollars. Japan came in second with one-point-23 trillion dollars, followed by Switzerland, Saudi Arabia, Taiwan, Russia and Hong Kong.