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FX Reserves Decline - Full Coverage
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1Korea's FX reserves fell by $4B in a month, the largest drop in 11 months.
2The main cause is the government selling dollars to curb surging exchange rates.
3The strong dollar also reduced the relative value of non-dollar foreign assets.
1Gov't sold dollars to curb surging exchange rates, cutting FX reserves by $4B.
2As a result, Korea's FX reserves ranking fell out of the global top 10.
3The BOK warned against panic, stating reserve levels remain sufficient.