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Sovereign Wealth Funds Briefing - Categorized | Reserve Currencies

South Korea may use forex reserves to defend Won

Posted on 24 February 2009

From CNBC: South Korean foreign exchange officials said they may use some of the foreign reserves to shore up the tumbling won even if the reserves fall below $200 billion, Yonhap news agency reported.

The report came after the won fell for nine consecutive sessions to trade near an 11-year low set in November last year on worries about South Korean banks’ ability to secure dollars to meet their maturing foreign debt….. Full Article: Source


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