SEOUL, Sept. 4 (Xinhua) -- South Korea's foreign reserves grew for the second straight month in August on the back of higher conversion value in non-U.S. dollar assets, central bank data showed Wednesday.
Foreign currency reserves increased by 2.41 billion U.S. dollars from a month earlier to 415.92 billion dollars at the end of August, after rising by 1.3 billion dollars in the previous month, according to the Bank of Korea (BOK).
The continued expansion came as the weak dollar raised the conversion value of non-dollar assets. The dollar index, which gauges the dollar value versus six major peers, declined 3.1 percent in August.
The country's foreign reserves were composed of 369.44 billion dollars of securities, 22.05 billion dollars of deposits, 15.25 billion dollars of special drawing rights, 4.79 billion dollars of gold bullion and 4.39 billion dollars of the IMF position.
South Korea ranked as the world's ninth-largest holder of foreign reserves at the end of July, unchanged from the previous month. ■