Menu Content
Go Top


S. Korea Sells a Net $15.4 Bln in Q2 to Stabilize FX Market

Written: 2022-09-30 18:17:47Updated: 2022-10-02 16:36:04

S. Korea Sells a Net $15.4 Bln in Q2 to Stabilize FX Market

Photo : YONHAP News

The Bank of Korea (BOK) said on Friday that foreign exchange authorities net sold over 15-point-four billion in U.S. dollars in the second quarter to stabilize the forex market. 

The amount -- 15 billion and 409 million dollars to be exact -- marks the largest quarterly figure of net selling by authorities, since the central bank and the finance ministry began releasing quarterly figures of currency trading in the third quarter of 2019.

A BOK official who declined to be identified said that the net sales were in line with regulators’ blueprint to address mounting concerns and to balance out lopsided trades in the foreign exchange market. 

The official said that the nation is far from running low on foreign exchange reserves considering its net external assets, current account surplus and low short-term debt ratio.

Still, the official admitted that a decrease in the country's forex reserves is somewhat inevitable, as a result of its interventions to contain market volatility.

Editor's Pick


This website uses cookies and other technology to enhance quality of service. Continuous usage of the website will be considered as giving consent to the application of such technology and the policy of KBS. For further details >