BoK to invest reserves into onshore renminbi assets
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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