South Korea’s foreign exchange reserves rose for the fourth straight month in May, boosted by yields from its foreign currency assets, according to its central bank.

The total reached a record high of $371.5 billion as of the end of May, up $1.6 billion from the previous month, the Bank of Korea said Wednesday.

Korea was ranked the world’s sixth-largest holder of foreign reserves, behind China, Japan, Saudi Arabia, Switzerland and Taiwan.

The key drive was the increased management gains, triggered by the dollar conversion value of euro-led assets, according to the bank. In May, the European currency fell 1.3 percent against the U.S. dollar.

“As the volatility of the global financial market continues to rise, it helps to possess a high amount of foreign currency,” said an official.

Account balance showed the most conspicuous change, jumping to $26.6 billion, up by $5.6 billion from the previous month, while securities decreased and gold maintained the status quo during the same period.