S.Korea's foreign reserves rise to 375.3 bln USD in March

South Korea's foreign currency reserves increased last month to 375.3 billion U.S. dollars as the U.S. dollar depreciation increased the conversion value of non-dollar assets, central bank data showed on Wednesday.

The country's foreign reserves tallied in March were up 1.39 billion dollars compared with the previous month, the Bank of Korea (BOK) data showed.

The increase was attributed to the weaker U.S. currency that boosted the value of non-dollar assets like the euro and the British pound.

The European single currency picked up 0.9 percent against the dollar in March, with the pounding appreciating 0.3 percent. The Japanese yen gained 0.9 percent versus the greenback.

South Korea's foreign reserves were composed of 340.37 billion dollars of securities holdings, 25.46 billion dollars of deposits, 4.79 billion dollars in gold bullion, 2.93 billion dollars of special drawing rights and 1.75 billion dollars in IMF positions.

As of end-February, South Korea was the eighth-largest holder of foreign reserves, unchanged from the previous month. Endit