As of the end of July, South Korea's foreign exchange reserves amounted to $42.795 billion, an increase of $590 million from the previous month. This increase is attributed to new issuance of foreign currency-denominated bonds and operating income. As of the end of June, South Korea's foreign exchange reserves ranked 10th in the world. Due to a decline in international gold prices, countries such as Germany, Italy, and France saw their rankings drop, allowing South Korea to climb the ranks. Meanwhile, the Bank of Korea began purchasing gold ETFs from the second quarter of this year and plans to further purchase domestic physical gold.
