BOK, finance ministry to purchase FX repo bonds in market stabilization efforts

SEOUL, June 30 (Yonhap) -- The Bank of Korea (BOK) and the country's financial authorities are moving to purchase foreign currency-denominated bonds in their latest effort to help stabilize the local currency market, the bank said Tuesday.

"As part of efforts to secure new policy measures, the Bank of Korea and the finance ministry are moving to introduce a new foreign currency supply system by purchasing foreign currency bonds under repurchase agreements," the BOK said in a released statement.

The BOK will use its foreign exchange reserves to inject U.S. dollars into the market, it added.

bdk@yna.co.kr
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