South Korea’s foreign exchange reserves increased nearly three-point-two billion U.S. dollars in July compared to a month earlier.
 
The Bank of Korea said on Thursday that the nation’s foreign reserves stood at nearly 384 billion dollars as of late July. The nation’s foreign reserves saw growth for five consecutive months and posted a new record for the third straight month.
 
The central bank attributed the growth to an increase in returns from investments of foreign currency assets and in the dollar conversion value of euro, yen and other foreign currencies due to a weak U.S. dollar.
 
As of late June, South Korea held the world’s ninth largest foreign reserves. China ranked first with more than three-point-five trillion dollars. Japan came in second with nearly one-point-25 trillion dollars, followed by Switzerland, Saudi Arabia, Taiwan, Russia, Hong Kong and India.