South Korea's foreign exchange stabilization fund bought about $20 billion in U.S. dollars that SK Hynix sold after the chipmaker's $26.5 billion American depositary receipt listing in July. A source with direct knowledge of the matter disclosed the purchase to Reuters.
South Korean foreign exchange authorities bought about $20 billion in U.S. dollars sold by SK Hynix after the chipmaker's ADR listing, a source with direct knowledge of the matter told Reuters. The dollar sale followed SK Hynix's $26.5 billion American depositary receipt listing in July.
Reuters reported the purchase as an exclusive from Seoul on Wednesday, citing the source's direct knowledge of the FX stabilization fund's dollar buying. The fund's roughly $20 billion in purchases drew on the dollars SK Hynix converted from its ADR listing, according to the same source.
Source: Investing.com/Reuters
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