Foreign exchange reserves fall below US$ 410 billion, lowest in nearly 5 years

Korea's foreign exchange reserves are down to an almost five-year low.

According to the Bank of Korea on this Thursday the reserves lost 1-point-8 billion U.S. dollars on month in February amounting to slightly below 4-hundred-10 billion U.S. dollars.

Bank officials are linking the latest drop in reserves to their increased currency swap with the National Pension Service as part of efforts to ease the heightened volatility in the foreign exchange market.

Meanwhile Korea stands as the world's ninth-largest holder of foreign reserves as of late January.