South Korea central bank may fill reserves with other currencies, others thought to follow suit
Published:
22 February 2005 y., Tuesday
South Korea central bank may fill reserves with other currencies, others thought to follow suit.
News that a number of central banks indicated they would diversify their reserves out of Treasuries and into other investments such as the euro sent the dollar tumbling Tuesday, and pressured bonds as well.
The euro bought $1.3254, up from $1.3065 late Monday. The dollar bought Ґ104.10, down from Ґ105.57 late Monday.
South Korea, which has the world's fourth-largest stockpile of reserves that has traditionally been held in U.S. debt, was the driving force behind Tuesday's selloff after it announced its plans to diversify into other currencies.
According to Treasury data, South Korean public and private investors hold $69 billion of U.S. Treasury debt, while the central bank's foreign exchange reserves are worth some $200 billion.
Šaltinis:
CNN/Money
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The mission held constructive discussions with Prime Minister Emmanuel Nadingar, Finance Minister Gata Ngoulou, Infrastructure Minister Adoum Younousmi, and other senior officials.
more »
The EBRD is helping to improve the quality of power supply and stimulate renewable sources of energy in the Caucasus with an €80 million sovereign loan to Georgia for the construction of a new high voltage transmission line - the Black Sea High Voltage line, which will interconnect Georgia and Turkey.
more »
The EBRD is helping to improve the infrastructure of the Georgian capital, Tbilisi, with a €100 million loan for the construction of a new railway route bypassing the city.
more »
One of the men considered to be the founding fathers of the euro currency met MEPs on the Foreign Affairs Committee Tuesday (16 March) to talk about transatlantic relations.
more »
European Trade Commissioner Karel De Gucht today opened a conference focused on the European Union's trade policy towards developing countries.
more »
At the beginning of the 2000s, state ownership in financial intermediation in Mexico accounted for about 20 percent of the total credit of the banking system, provided through development financial institutions and funds.
more »
Halving the number of business failures by offering individual support, doubling the number of young people who want to start their own business or raising by 500% the number of enterprising new cooperatives are just some of the projects nominated for the European Enterprise Awards 2010.
more »
The European Commission has published the fourth call for proposals for the creation and upgrade of freight transport services under the second Marco Polo programme.
more »
The European Central Bank (ECB) today announced a programme of technical cooperation with the Central Bank of Bosnia and Herzegovina, in collaboration with a number of euro area national central banks (NCBs).
more »
The EU disbursed today €1 billion to Romania, the second instalment of a €5 billion loan, which was agreed in May 2009 as part of a multilateral financial assistance package.
more »