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South Korea central bank sold net US$15.41b for FX intervention in Q2

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Published Fri, Sep 30, 2022 · 04:11 PM
    • It was the fourth straight quarter the Bank of Korea net sold US dollars in the local currency market and the biggest amount since the central bank began its quarterly release in the third quarter of 2019.
    • It was the fourth straight quarter the Bank of Korea net sold US dollars in the local currency market and the biggest amount since the central bank began its quarterly release in the third quarter of 2019. PHOTO: REUTERS

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    SOUTH Korea’s central bank said on Friday (Sep 30) it sold a net US$15.41 billion in the second quarter for intervention in the foreign exchange market - its largest sum on record - to soften the won’s decline.

    It was the fourth straight quarter the Bank of Korea net sold US dollars in the local currency market and the biggest amount since the central bank began its quarterly release in the third quarter of 2019.

    The Korean won ended the second quarter with a 6.6 per cent loss against the US dollar, which was about the same pace seen in the rise of the US dollar index. REUTERS

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