Oct. 5 (Bloomberg) -- South Korea’s foreign-exchange reserves dropped the most in almost three years in September due to declines in the value of the euro and pound against the dollar, according to the central bank.

Reserves shrank to $303.4 billion from $312.2 billion in August, the Bank of Korea said in a statement in Seoul today. That’s the biggest drop since November 2008.

--Editors: Ken McCallum, Patrick Harrington

To contact the reporter on this story: William Sim in Seoul at wsim2@bloomberg.net

To contact the editor responsible for this story: Paul Panckhurst at ppanckhurst@bloomberg.net