ID :
19712
Tue, 09/16/2008 - 14:33
Auther :
Shortlink :
http://m.oananews.org//node/19712
The shortlink copeid
Bank of Korea to provide funds in currency swap market if necessary
SEOUL, Sept. 16 (Yonhap) -- South Korea's central bank said Tuesday it will inject dollars into the domestic won-dollar swap market if necessary, in a potential move to calm market turmoil after U.S. investment bank Lehman Brothers Holdings Inc. filed for bankruptcy.
The Bank of Korea "will expand the supply of funds into the swap market if
necessary," an official at the central bank said.
The South Korean currency sharply declined earlier in the day as Lehman collapsed
and another Wall Street giant, Merrill Lynch & Co, was rescued by Bank of
America.
The won fell by 34.1 to 1,143.20 won versus the U.S. dollar as of 9:10 a.m. local
time.
The Bank of Korea "will expand the supply of funds into the swap market if
necessary," an official at the central bank said.
The South Korean currency sharply declined earlier in the day as Lehman collapsed
and another Wall Street giant, Merrill Lynch & Co, was rescued by Bank of
America.
The won fell by 34.1 to 1,143.20 won versus the U.S. dollar as of 9:10 a.m. local
time.
