South Korea central bank may fill reserves with other currencies, others thought to follow suit
Published:
22 February 2005 y., Tuesday
South Korea central bank may fill reserves with other currencies, others thought to follow suit.
News that a number of central banks indicated they would diversify their reserves out of Treasuries and into other investments such as the euro sent the dollar tumbling Tuesday, and pressured bonds as well.
The euro bought $1.3254, up from $1.3065 late Monday. The dollar bought Ґ104.10, down from Ґ105.57 late Monday.
South Korea, which has the world's fourth-largest stockpile of reserves that has traditionally been held in U.S. debt, was the driving force behind Tuesday's selloff after it announced its plans to diversify into other currencies.
According to Treasury data, South Korean public and private investors hold $69 billion of U.S. Treasury debt, while the central bank's foreign exchange reserves are worth some $200 billion.
Šaltinis:
CNN/Money
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
Today, the Commission published a Communication which outlines the most serious tax problems that EU citizens face in cross-border situations and announces plans for solutions.
more »
The European Commission has opened a formal investigation under EU state aid rules to examine a number of support measures, including several capital injections and shareholder loans, that the Hungarian authorities granted to Malév-Hungarian Airlines in the context of its privatisation and subsequent renationalisation.
more »
Internet and lax customs enforcement drive growth of 600 billion US dollar counterfeit goods industry.
more »
350 million people rose out of poverty in the past decade, but 1.4 billion are still extremely poor, says the latest report into rural poverty.
more »
New plan sets out action to reach 75% employment target for the EU by 2020.
more »
Research Ministers of the EU Member States and Associated Countries, together with the European Commission, are announcing in Brussels today three new pan–European energy research infrastructures.
more »
Algirdas Šemeta, Commissioner for Taxation, Customs, Audit and Anti-fraud, is visiting Moscow today to discuss ways in which customs cooperation between the EU and Russia can be reinforced.
more »
Following on from Monday's debate with ECB President Jean-Claude Trichet, MEPs on Tuesday adopted a resolution, by a show of hands, gauging the ECB's performance in 2009 and suggesting actions to be taken in view of the economic situation.
more »
The European Parliament today approved €10.5 million in European Globalisation Adjustment Fund aid to over 3,000 people in the Netherlands who lost their printing and publishing sector jobs last year, due to the economic crisis.
more »
A diamond-studded gold coin engraved with a picture of the Taj Mahal and worth 100,000 euros is unveiled at the Paris mint.
more »