BOK to sell $6.6 bn MSB and buy back $3 bn to suggest intervention fund to aid KRW, bonds

[Source: Bank of Korea]

Bank of Korea will offer 8.6 trillion won ($6.6 billion) worth of Monetary Stabilization Bonds whose proceeds are used to keep foreign exchange rates stable, in July, as authorities endeavor to keep the USD under psychologically-important KRW 1,300. Competitive bidding for 7.4 trillion won worth will take place on July 4-25, and fixed-rate tender for 1.2 trillion won worth on July 27. Buyback in July will be 4 trillion won, with bidding scheduled on July 7 and 19. Buyback aids the bond market where prices also have been crashing.

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