SEOUL: South Korea's foreign exchange reserves rose to a record high in March, central bank data showed on Monday, but a relatively small gain indicated dollar-buying intervention was weak due to concerns about inflation
Foreign current reserves in Asia's fourth-largest economy rose $0.95 billion during last month to a record $298.62 billion, the Bank of Korea said, attributing the rise to strength in non-dollar assets and investment gains.
The country's foreign reserves added $1.71 billion in February and $4.39 billion in January after reports by currency traders of the government's dollar-buying interventions aimed at smoothing the won's rise.
The finance ministry and the central bank do not comment on market talk of intervention.
South Korea's foreign reserves ranked seventh in the world at the end of February.
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