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Sovereign Wealth Funds Briefing - Categorized | Reserve Currencies

Korea: Gov’t might guarantee foreign currency deposits

Posted on 30 October 2008

From KBS: The government is reviewing offering a state guarantee of foreign currency deposits, as it does for deposits made in the Korean currency.

An official of the Financial Services Commission said that the suggestion is under consideration as a measure to encourage people to keep their foreign currency in domestic banks. But government agencies are cautious about implementing the measure, since it could be interpreted as a sign of weakness in the nation’s foreign reserves. ….. Full Article: Source


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