South Korean foreign reserves rise in Oct. to US$264.2 bil.

Reserves advanced to US$264.2 billion last month from US$254.3 billion in September, the Bank of Korea said in an e-mailed statement Tuesday. The British pound rose 2.6 percent against the dollar in October and the euro gained 1.2 percent.

The nation's foreign-exchange reserves slumped to their lowest level in almost four years in November 2008 after the won declined and the global financial crisis made it difficult for companies to refinance offshore debt.

South Korea's foreign reserves were the world's sixth-largest behind China, Japan, Russia, Taiwan and India as of September, according to the central bank.

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