S. Korea’s September foreign reserves fall to 440.56 bln USD-Xinhua
SEOUL, Oct. 6 (Xinhua) -- South Korea's September foreign exchange reserves fell for the first time in four months, driven by reducing foreign currency deposits by financial institutions and asset entrustment for the U.S. strategic investments, central bank data showed Tuesday. The total reserves sank 1.72 billion U.S. dollars from a month earlier to 440.56 billion dollars at the end of September, marking the first decrease since May, according to the Bank of Korea (BOK). The downturn was attributed to a decline in foreign currency deposits by financial institutions and asset entrustment to the Korea-U.S. Strategic Investment Corporation, a temporary state-run agency to manage South Korea's strategic investments in the United States worth 350 billion dollars. A reduction in the U.S.-...