South Korea FX Reserves Post Record Monthly Increase

South Korea’s foreign exchange reserves rose to $443.16 billion at the end of October 2026 from $440.56 billion in September, marking a $2.6 billion increase and the first rebound in two months. The total surpassed the previous August peak of $442.28 billion, reaching its highest level since May 2022. The recovery was mainly driven by investment returns on foreign assets and higher foreign currency deposits held by financial institutions. Deposits jumped by $6.32 billion to $36.27 billion, while securities, including US Treasuries, fell by $3.59 billion to $382.43 billion. Special Drawing Rights (SDRs) declined by $70 million to $15.41 billion, while the country's reserve position at the IMF fell by $50 million to $4.25 billion. Gold holdings remained unchanged at $4.79 billion. South Korea also climbed to ninth place globally in September from 11th in August, partly as falling gold prices reduced the reported reserves of countries such as Italy and France.

South Korea’s foreign exchange reserves fell to $440.6 billion at the end of September 2026 from $442.3 billion in August, ending a three-month rising streak. August had recorded the largest monthly gain on record. Securities remained the largest component, falling to $386 billion from $387.1 billion, while deposits declined to $30 billion from $30.3 billion. Special Drawing Rights (SDRs) fell to $15.5 billion from $15.8 billion. Gold holdings and the country’s reserve position at the IMF were unchanged at $4.8 billion and $4.3 billion, respectively.

South Korea’s foreign exchange reserves surged to $442.3 billion at the end of August 2026 from $428.0 billion in July, with the $14.3 billion increase marking the largest monthly gain on record. The jump was mainly driven by higher foreign currency deposits from financial institutions and gains in marketable securities. Securities remained the largest component, rising by $7.1 billion to $387.1 billion, while deposits jumped by $7.2 billion to $30.3 billion. Special Drawing Rights (SDRs) edged up to $15.8 billion, while the country’s reserve position at the IMF also increased slightly. Gold holdings were unchanged at $4.8 billion. Foreign exchange reserves have now risen for three consecutive months since June, with the August increase surpassing the previous record monthly gain of $14.29 billion set in May 2009.