Bank of Intl Settlements seen buying South Korea t-bonds this week

[SEOUL] The Bank of International Settlements was seen buying South Korean treasury bonds on Monday and Tuesday this week, two sources familiar with the matter told Reuters on Wednesday. "We believe the BIS bought roughly 600 billion won (S$694 million) worth during the past two days," said one of the sources.

Another source told Reuters international institutions like the BIS were seeking out stable assets to buy and confirmed the purchase but did not specify the amount.

The sources said this is not the first time the BIS has been seen buying South Korean treasury bonds. They also could not confirm how much the BIS previously held in South Korean treasury bonds before this week.

The comments came two weeks after the Reserve Bank of Australia said it had invested 5 per cent of its net foreign currency reserves in Korean won.

A BIS spokesperson said they had no immediate comment on the matter.

REUTERS