BoK to invest reserves into onshore renminbi assets

bank-of-korea

The Bank of Korea (BoK) has secured two important approvals from Chinese regulators that will help enable the central bank to invest more of its $300 billion-plus reserves into onshore renminbi assets. The move into renminbi is part of a long-term effort to diversify Korea's reserves assets.

The Korean central bank was granted a quota by the People's Bank of China to invest in the onshore renminbi inter-bank bond market in January this year. Bank of Korea officials, however, declined to provide

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