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
On 30th April this year, AB Bank SNORAS business loan portfolio, in comparison to 31st December 2008, i.e. during the first four months of this year, grew by 74 million Litas or 3.8 per cent, while the business loan portfolio of the most banks operating in Lithuania was decreasing.
more »
London's financial district, Canary Wharf is transformed into a giant car showroom. Dozens of manufacturers and dealers have flocked to this part of the city to show off their latest models.
more »
In the latest edition of its 2009 survey, "ATMs and Cash Dispensers Central and Eastern Europe," Retail Banking Research Ltd. says the 15 countries it has tracked in CEE have once again shown exceptional growth.
more »
During the draw another five winners of the Danske Bankas monthly Scholarship award (a one off payment to the amount of 250 litas) were announced.
more »
The European Commission has authorised, under the EC Treaty’s rules on state aid, plans notified by Sweden to provide guarantees that would enable Volvo Personvagnar to access loans from the European Investment Bank.
more »
The European Union signed an interim Economic Partnership Agreement (EPA) today with Botswana, Lesotho and Swaziland.
more »
Commission proposes to immediately free up €19bn in earmarked funds to fight unemployment as recession takes its toll.
more »
Danske Bankas would like to inform all present and future customers that, as of 1 July 2009, the cash withdrawing fee from Danske Bankas' ATM network in Lithuania is to change.
more »
One day not so far in the future, Europeans may be able to buy a loaf of bread knowing where the flour came from.
more »
General Motors is getting closer to filing what would be the largest industrial bankruptcy in US history.
more »