|
You are here : Home >> Currency Street >> Report |
|
|
| |
S.Korea forex reserves rises to $264.19 billion |
| |
|
|
| |
SEOUL (Commodity Online) : South Korea's central bank, Bank of Korea (BOK) on Tuesday said country’s foreign exchange reserves rose to the second-highest level ever in October mainly due to a rise in the dollar-converted value of assets denominated in other currencies.
In a statement issued here, BOK said country’s foreign reserves in October amounted to $264.19 billion, marking a month-on-month rise of $9.94 billion.
Receive $25 free with a Forex Micro account
The amount of foreign reserves, which stayed on the rise for the eighth straight month, hit the highest level since March 2008 when it marked a record high of $264.25 billion.
The amount of the monthly gain hit the third- largest in October, according to the BOK.
The BOK said the October rise can be attributed to multiple favorable factors, such as retrieving $1.5 billion in maturing dollar funds from local banks and $800 million from the National Pension Service.
The BOK also attributed the gain to a weaker dollar, which boosted up the converted value of assets denominated in other currencies.
The upward trend in the reserves is likely to continue with the current account remaining in black and foreign currency liquidity previously distributed to banks being retrieved, the bank further explained.
The bank also expected that the nation's foreign exchange reserves are likely to hit a record high in November if the dollar continues to wane at this pace.
As of the end of August, South Korea was the world's sixth-largest holder of foreign exchange reserves.
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
| Technical Calls |
|
| |
Gold can touch $1,225 per ounce by next week |
| |
What Eric is saying here also lies in the shortening of the steps in the stair step gold action. At new highs, such as now, this formation is a rare set up suggesting an exponential rise.
Rev. Doug, who is no slouch when it comes to gold, anticipat |
 |
| |
Gold price will double $1,150: Jim Rogers |
| |
The most bullish investor on gold these days seems to be the global commodities investor Jim Rogers. Rogers, based in Singapore, and a big investor in the Chinese commodities market says, gold price should double the current $1,150 per ounce level. |
|
| |
Gold price to average $1,140: Barclays Capital |
| |
Barclays Capital says gold prices will average $1,140 per ounce in 2010, says Barclays Capital. "We expect prices to maintain their upward momentum through to at least the first half of 2010, where we expect prices to average $1,140 in the second qu |
|
|
More> |
|
|
|
|
|
| |
|
| |
Crude oil futures continued to trade down in mid London trade Friday as the US dollar strengthened against the major currencies apart from a dip in the global equities. |
 |
| |
|
| |
Gold futures fell in negative zone as dollar gathered some strength in mid London trades. Dollar typically strengthens when there are less data releases from US. |
|
| |
|
| |
MCX Comdex was up by 2.35% to 2694.17. MCX Energy was down by 0.22% to 2651.55, MCX Metal was up by 3.70% to 3226.02 and MCX Agri was up by 4.84% to 2255.10. |
|
|
More> |
|
|
|
|
|
| 
FeedBurner
