S. Korea's foreign reserves rise in July

South Korea's foreign reserves rose for the second consecutive month in July due to issuance of foreign exchange stabilization bonds, the central bank said Wednesday. The country's foreign reserves stood at $427.95 billion as of end-July, up $590 million from a month earlier, according to data from the Bank of Korea. The reading followed a $370 million on-month gain in June. The BOK attributed the monthly increase to issuance of foreign exchange stabilization bonds and a rise in the US-denominat