South Korea’s foreign reserves rose for the fourth consecutive month in September on the back of an increase in foreign currency deposits at financial institutions. 

The Bank of Korea announced Friday that the nation’s foreign currency reserves stood at 422-point-02 billion dollars at the end of September, up five-point-73 billion dollars from a month earlier.

The value of securities, including both government and corporate bonds, increased by 12-point-two billion dollars between August and September, driving the overall rise. 

The Bank of Korea attributed the rise to the quarter-end effect, which boosted foreign currency deposits and raised returns at financial firms.

As of the end of August, South Korea's foreign exchange reserves were the tenth-largest in the world.