FX market operations-Q3

BOK sells net US$7.14 billion in market smoothing operations in Q3

SEOUL, Dec. 31 (Yonhap) -- The Bank of Korea (BOK) said Friday it sold a net US$7.14 billion in the third quarter to help ease fluctuations in the foreign exchange market.

The third-quarter net sale of U.S. dollar sharply rose compared with the second quarter when the central bank's selling and buying of the greenback remained on par, according to data uploaded on the central bank's homepage.

The BOK began releasing such data in March 2019 to help boost the transparency of its market stabilization steps.

A BOK official said market smoothing operations in the third quarter came as the Korean currency weakened against the U.S. dollar.

The Korean currency closed at 1,184 won against the U.S. dollar on Sept. 30, compared with 1,086.3 won at the end of last year.

(END)

[ⓒ K-VIBE. 무단전재-재배포 금지]