SEOUL, Sept. 5 (Xinhua) -- South Korea's foreign reserves kept a record-breaking trend for four months in a row as the weaker U.S. dollar increased the conversion value of non-dollar assets, central bank data showed Tuesday.
Foreign reserves reached a new record high of 384.84 billion U.S. dollars as of end-August, up 1.08 billion dollars from a month earlier, according to the Bank of Korea (BOK).
The foreign currency reserves surpassed previous record highs for the fourth consecutive month through last month.
The BOK attributed the record-breaking trend to a continued growth in investment returns as well as the greenback's depreciation to its peers that increased the conversion value of non-dollar assets.
Expectations emerged for the U.S. Federal Reserve to delay its interest rate increase, leading to the dollar's weakness.
The European single currency appreciated 1.2 percent versus the dollar last month, with the Japanese yen rising 0.2 percent.
The country's foreign reserves were composed of 354.2 billion dollars of securities holdings, 20.77 billion dollars of deposits, 4.79 billion dollars of gold bullion, 3.32 billion dollars of special drawing rights and 1.75 billion dollars of IMF positions.
As of end-July, South Korea was the ninth-largest holder of foreign reserves.
