S Korea central bank sold net $8.31 billion for FX intervention in Q1

S Korea central bank sold net $8.31 billion for FX intervention in Q1
FILE PHOTO: The logo of the Bank of Korea is seen on the top of its building in Seoul, South Korea, July 14, 2016. REUTERS/Kim Hong-Ji

SEOUL : South Korea’s central bank said on Thursday that it sold a net $8.31 billion in the first quarter to ease volatility in the foreign exchange market.

It was the biggest net selling of dollars by the Bank of Korea since its quarterly release began in the third quarter of 2019, and follows that of $6.89 billion in the last quarter of 2021 and $7.14 billion in the quarter before.

The Korean Won fell 1.92 per cent against U.S. dollar during the period.

 

 

Source: Reuters