SEOUL, South Korea (AP) -- South Korea's foreign reserves declined in May as the country's buffer against potential financial turmoil ended a streak of four straight record highs.
The Bank of Korea announced Thursday that official foreign reserves totaled $305.08 billion at the end of last month.
That was $2.12 billion lower than the previous record of $307.20 billion set in April.
The central bank attributed May's decline to a decrease in the dollar value of the portion of the reserves denominated in the euro and British pound in line with their weakness against the greenback.
The reserves surged past $300 billion for the first time in April.
The central bank said South Korea's reserves remained the world's seventh largest as of the end of April.
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