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flag South Korea’s foreign reserves dropped $2.15 billion in January to $425.91 billion, mainly due to central bank actions.

flag South Korea's foreign exchange reserves fell by $2.15 billion in January to $425.91 billion, marking the second consecutive monthly decline, according to the Bank of Korea. flag The drop was due to central bank measures, including an FX swap agreement with the National Pension Service that allowed it to borrow U.S. dollars instead of buying them in the spot market, easing pressure on the won. flag Reserves at the end of January totaled $377.52 billion in securities, $23.32 billion in deposits, $15.89 billion in special drawing rights, $4.79 billion in gold, and $4.38 billion in IMF position. flag South Korea remained the world’s ninth-largest holder of foreign reserves as of December.

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