South Korea denies report on plan for large US Treasury bond buying
TLT•South Korea denied it reportedly planned to acquire a large quantity of US Treasury bonds. The finance ministry and Bank of Korea said the report was “not true.”
1. Officials deny plan
South Korea's government and central bank denied a report that the country planned to acquire a large quantity of US Treasury bonds. The report said the plan had been conveyed to the United States and aimed to boost foreign exchange reserves.
2. Reserves managed privately
The finance ministry and Bank of Korea said management of the country's foreign exchange reserves is conducted without public disclosure and did not elaborate.
