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
A record 131 economies around the globe reformed business regulation in 2008/09, according to the IFC–World Bank Doing Business 2010 report.
more »
The World Bank’s Board of Directors today approved a US$5 million grant to improve the quality of electricity services in Haiti and strengthen the financial and operational performance of Electricité d’Haïti, the public electricity utility.
more »
Firuza Ziyoeva, a 42-year old mother of five, lacks any sustainable income for her family – her husband is unable to work due to disabilities and their children are all young.
more »
The Managing Director of the International Monetary Fund (IMF), Mr. Dominique Strauss-Kahn, made the following statement today regarding Singapore’s commitment to increase fourfold its contribution to the Fund’s New Arrangements to Borrow (NAB) by US$1.5 billion, to a total of US$2 billion.
more »
Statistics Lithuania reports that, based on non-final data obtained from customs declarations and Intrastat reporting data, exports in I half-year 2009 made LTL 19 billion, while imports – LTL 21.2 billion.
more »
Since 7 September 2009 AB Bank SNORAS for residents and economy subjects begins to distribute a new savings product - certificates of deposits.
more »
“We are 53 diverse countries differently affected by the crisis, 1 billion people that cannot be ignored”. That was the stark message to Members of Parliament's Development Committee from Donald Kaberuka, the head of Africa's Development Bank at a hearing on 3 September in Brussels.
more »
The European Investment Bank has granted a EUR 450 million loan to AENA (Aeropuertos Españoles y Navegación Aérea) for upgrading and expanding Spain’s air traffic control facilities in order to optimise their overall efficiency and ensure that they comply with international regulations.
more »
Statistics Lithuania informs that in August 2009, against July, prices for total industrial production sold increased by 0.9 per cent.
more »
Despite signs the near two-year U.S. recession may be over - Americans are still finding it hard to get a job.
more »