South Korea's Authorities Offload Net $9.6 Billion in Q2 FX Market Stabilization Efforts

The South Korean authorities sold a net $9.6 billion in US dollars during Q2 to stabilize the FX market, according to data from the Bank of Korea.

This marks the seventh consecutive quarter of net dollar selling since the fourth quarter of 2024, with a cumulative total of a net $54.9 billion over this period.

The authorities sold a net $13.6 billion in the first quarter under the same measure.

The Korean won traded at an average of 1,502.1 won against the greenback over Q2, weakening from 1,466.7 won in the first three months of the year.