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
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Reserves
Turkish lira hits record lows despite FX from Gulf states
Erdoğan says he is grateful to allies but central bank reserves fall to lowest level in over 20 years
Trends in reserve management 2023: survey results
Insights on inflation, asset diversification, geopolitical risk, risk management frameworks and ESG adoption
IMF approves $3 billion for Ghana
Governor welcomes conditions, including cutting inflation and ending monetary financing
Korean and Indonesian central banks sign bilateral transactions MoU
Agreement aims to let firms directly exchange won and rupiah without dollar conversion
Higher inflation and rates will not reverse asset diversification
Most reserve managers expect diversification will continue in some form
Above-target inflation main risk for reserve managers
Central banks rank geopolitical tensions as the second most pressing risk in 2023
Ethiopia requests $2 billion from IMF
Talks ongoing as debt sustainability assessed, sources say
Uruguay’s government will recapitalise central bank
Economist says BCU failed to hedge against exchange rate risks