Korea`s gold/forex reserves reach record-high level over last 10

SEOUL, August 4 (Itar-Tass) -- South Korea's gold and foreign currency
reserves have reached a record-high level at the beginning of August over
the last ten months and amounted to 237.51 billion dollars. This is 5.78
billion dollars more than a month ago, the Korean Bank reports on Tuesday.
It connects this fact with a growth of profits from investments and the
improved situation with foreign currency liquidity.
South Korea's gold and foreign currency reserves include official
reserves of foreign currency at the central bank, financial bodies of the
country and international currency-credit organizations, special rights of
borrowing and gold bullions. They are intended for international
settlements, in case of unforeseen situations and regulation of the
currency market. Currency reserves are assets in the country's balance of
payments. According to the sate at the beginning of July, South Korea
ranked sixth in the world after China, Japan, Russia, Taiwan and India
according to the sum of currency reserves.
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