Home / Business and Economy / SK Hynix Dollar Sales Trigger $20B Intervention
SK Hynix Dollar Sales Trigger $20B Intervention
2 Sep
Summary
- South Korean authorities purchased $20 billion USD.
- The purchase followed SK Hynix's ADR listing in July.
- This intervention occurred on Wednesday, September 2nd.
On Wednesday, September 2nd, South Korean foreign exchange authorities executed a significant market intervention. They purchased approximately $20 billion in U.S. dollars, acquiring them from SK Hynix.
This substantial acquisition of foreign currency by the authorities followed SK Hynix's major $26.5 billion American depositary receipt (ADR) listing. The ADR offering took place in July of this year. Information regarding the intervention was provided by a source with direct knowledge of the transactions.
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