Seoul – The Bank of Korea announced on Friday that it sold a net US$3.5 billion during the third quarter of this year. This action was part of its ongoing efforts to stabilize the local currency against the U.S. dollar.
According to Yonhap News Agency, this third-quarter dollar selling is the ninth consecutive quarter of such market-smoothing operations since the third quarter of 2021. The amount sold in the third quarter represents a decrease from the $5.97 billion sold in the previous quarter.