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Concern grows over dwindling foreign reserves

The nations foreign exchange reserves extended losses in October again after the Bank of Korea (BOK) sold dollar reserves as part of efforts to defend the sharp depreciation of the local currency against the greenback. While the government says the country still has abundant foreign exchange reserves, experts are urging it to take preemptive measures, as fear can trigger a crisis amid external and internal uncertainties.
Soult Ukpyolsi South Korea Lee Hyung Suk Hyundai Research Institute Hana Bank Research Institute

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