South Korea's foreign exchange reserves surpassed 402-billion U.S. dollars in July, bolstering the country's financial stability.
The Bank of Korea said Friday the country's reserves grew nearly 2-point-2-billion dollars from June to 402-point-5-billion dollars last month.
The central bank said the surge was largely due to the devaluation of the U.S. dollar that in turn led to the BOK's gains in assets held in foreign currencies.
The reserves surpassed the 400-billion dollar mark for the first time in June this year.