Foreign reserves drop in May on FX market-stabilizing measures

South Korea's foreign reserves fell slightly last month amid efforts by authorities to manage exchange rate volatility, the central bank said Thursday. The country's foreign reserves stood at US$426.99 billion as of end-May, down $880 million from a month earlier, according to data from the Bank of Korea (BOK). The figure had risen $4.22 billion in April, following a $3.97 billion decline in March, which was the sharpest monthly drop in about a year. The BOK attributed the on-month decline to au

By The Korea Herald