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
European conference promotes regional solutions to global challenges.
more »
Iceland‘s low-fare airline Iceland Express will launch regular flights by the new-generation „Boeing 737-700“ planes to about 8 different destinations from Vinius International Airport.
more »
Over 3 million people around the world have lost their jobs due to the financial crisis and, according to the UN, economic recovery is unlikely to reach those that have suffered most - poor women and children.
more »
The European Commission has today decided not to raise any objections to the public financing of infrastructure developments at three Lithuanian airports – Vilnius, Kaunas and Palanga International Airports.
more »
The European Commission has published the results of a public consultation launched in June 2009 on whether and how deadlines should be set for the migration of existing national credit transfers and direct debits to the new Single Euro Payments Area (SEPA) payment instruments.
more »
A favourable climate for innovation in the EU can speed up the transition to an eco-efficient economy and increase Europe’s global competitiveness.
more »
The International Monetary Fund (IMF) and the Deutsche Bundesbank have signed an agreement to provide the Fund with up to the equivalent of €15 billion (about US$22 billion).
more »
Today the European Central Bank is publishing a report entitled “Euro Money Market Survey 2009”, which illustrates the main developments in the euro money market in the second quarter of 2009, in comparison with the second quarter of 2008.
more »
New EU laws proposed for closer oversight of financial services industry, sending a strong signal to this week's G20 summit.
more »
The European Commission has repeatedly underlined that the restructuring plan of new Opel Europe must guarantee that the company will be viable in the future.
more »