South Korea's Central Bank to Meet with Commercial Banks Friday on Excess Foreign Exchange Reserves

Deep News01-14

According to informed sources, the Bank of Korea has indicated it will meet with representatives from major commercial banks on Friday to discuss the banks' foreign exchange deposits. Two people familiar with the matter revealed that the central bank will encourage institutions to deposit their excess foreign exchange reserves with it and will inquire about the potential scale of such deposits. Both individuals requested anonymity as they were not authorized to speak publicly. Another source mentioned that the central bank will discuss the level of deposit interest rates. The Bank of Korea confirmed it will hold a meeting with major commercial banks on Friday but did not disclose further details.

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