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
(END)
-
1 (News Focus) S. Korea drums up measures to revive consumption, create jobs next year amid pandemic
-
2 S. Korean companies bet big on hydrogen for zero-emission goal
-
3 S. Koreans feel pinch of rising housing costs amid economic downturn
-
4 Korean Air's Asiana takeover heralds seismic shift; bumpy roads lie ahead for completion
-
5 (News Focus) Biden's victory heralds more multilateral approach, environment, pro-labor policies in focus