ID :
25790
Tue, 10/21/2008 - 16:57
Auther :
Shortlink :
https://www.oananews.org//node/25790
The shortlink copeid
S. Korea`s central bank sells US$1.52 bln in swap market
SEOUL, Oct. 21 (Yonhap) -- South Korea's central bank said Tuesday it sold US$1.52 billion to local banks at its first open bidding for won-dollar swaps in an effort to provide liquidity to dollar-strapped lenders.
The Bank of Korea (BOK) said that its offer of three-month swaps was considerably
undersubscribed. The BOK originally planned to release $2.5 billion to the
banking sector.
The auction comes as domestic banks face a severe dollar shortage, hit by the
global credit crunch.
The BOK said Friday it will introduce an open bidding system for won-dollar swaps
in an effort to supply more dollar liquidity to the local market.
The central bank said it will hold such an auction every Tuesday.
sooyeon@yna.co.kr
(END)
The Bank of Korea (BOK) said that its offer of three-month swaps was considerably
undersubscribed. The BOK originally planned to release $2.5 billion to the
banking sector.
The auction comes as domestic banks face a severe dollar shortage, hit by the
global credit crunch.
The BOK said Friday it will introduce an open bidding system for won-dollar swaps
in an effort to supply more dollar liquidity to the local market.
The central bank said it will hold such an auction every Tuesday.
sooyeon@yna.co.kr
(END)
