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South Korea’s foreign reserves dropped $2.15 billion in January to $425.91 billion, mainly due to central bank actions.
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.
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.
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.
South Korea remained the world’s ninth-largest holder of foreign reserves as of December.
Las reservas extranjeras de Corea del Sur cayeron $2,15 mil millones en enero a $425,91 mil millones, principalmente debido a las acciones del banco central.