SEOUL :South Korea’s foreign exchange authorities sold a net $800 million in currency market intervention transactions in the second quarter, after selling $2.96 billion in the first quarter, central bank data showed on Tuesday.
It was the third consecutive quarter authorities sold dollars to curb losses in the won.
In the second quarter, the won strengthened 8.7 per cent against the dollar, its biggest quarterly jump since the final quarter of 2022, after hitting at one point its weakest since 2009 at 1,487.60 per dollar. The dollar index fell 7.1 per cent during quarter.
