Forex authorities unloaded US$6.89 bln in Q4 to ease market volatility
SEOUL, March 31 (Yonhap) -- South Korea's foreign exchange authorities unloaded a net $6.89 billion in the fourth quarter of last year to ease volatility in the forex market, the central bank said Thursday.
The intervention through dollar selling came as the local currency lost marked ground to the greenback amid expectations of the U.S.' tapering of stimulus and concerns over China's economy, according to a BOK official.
The BOK and the finance ministry have disclosed quarterly figures on net selling or buying of dollars in the forex market since the third quarter of 2019.
A clerk sorts US$100 banknotes at the headquarters of Hana Bank in Seoul on Dec. 3, 2021. South Korea's foreign exchange reserves had come to US$463.91 billion as of end-November, marking the first drop in five months due to a decline in the dollar-converted value of assets denominated in other foreign currencies, central bank data showed. (Yonhap)
kokobj@yna.co.kr
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