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BOK buys net US$1.98 bln in market-smoothing operations in Q4

March 29, 2024

The Bank of Korea said Friday it had bought a net US$1.98 billion in the fourth quarter of last year amid the strengthening of the Korean won against the U.S. dollar.

The fourth-quarter dollar buying is the first in three years and snaps the nine straight quarters of dollar selling for market-smoothing operations since the third quarter of 2021, according to the central bank.

During the third quarter of last year, the central bank sold a net $3.52 billion.

The Korean currency traded at 1,288 won to the greenback at the end of last year, up from 1,349.3 won three months ago.