S. Korea's FX reserves tick up in Feb.

SEOUL, March 4 (Yonhap) -- South Korea's foreign exchange reserves slightly rose in February from the previous month due mostly to increased profit from the management of foreign-currency denominated assets, data showed Wednesday.

The country's foreign exchange reserves reached US$362.4 billion as of the end of last month, inching up $180 million from January, according to Bank of Korea data.

Foreign reserves consist of securities and deposits denominated in overseas currencies, International Monetary Fund reserve positions, special drawing rights and bullion.

In a press release, the central bank explained that a rise in management gains offset the weakening value of the euro, raising the foreign exchange reserves amount.

As of end-January, South Korea was the world's seventh-largest holder of foreign reserves, trailing China, Japan, Saudi Arabia, Switzerland, Taiwan and Russia. The comparison for February data is not yet available.

mil@yna.co.kr
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