South Korea's foreign reserves dip in September after three months of growth
South Korea's foreign reserves fell in September, ending a three-month upward trend, as foreign-currency assets declined.
The Bank of Korea reported that total foreign reserves stood at US$440.56 billion at the end of September, down US$1.72 billion from the previous month. The drop was driven by lower foreign-currency deposits held by banks and a reduction in foreign securities, including U.S. Treasuries. Holdings of special drawing rights also slipped, while gold reserves stayed flat.
Why it matters
Changes in reserve levels affect South Korea's ability to manage currency stability and external shocks.
In this story
foreign reservesSeptemberBank of Koreaforeign currency depositsU.S. Treasuriesspecial drawing rightsgold holdings
