South Korea's Foreign Reserves Drop to $440.56 Billion in September

Statistics released by the Bank of Korea on the 6th show that foreign reserves stood at $440.56 billion as of the end of September, a decrease of $17.2 billion from August's $442.28 billion, marking the first decline in four months. The Bank of Korea attributed the drop to reduced foreign currency deposits by financial institutions, assets managed under delegation to the Korea-US Strategic Investment Fund, and declines in the dollar value of foreign exchange assets denominated in other currencies. Foreign reserves had increased for three consecutive months prior, with August seeing a record monthly increase of $14.33 billion.