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S Korea’s pension fund carried out rare FX hedging this month

SEOUL : South Korea’s National Pension Service sold a small amount of dollars on the forward market this month in its first foreign exchange hedging since early 2020, an official at the agency told Reuters on Thursday.

The official, who declined to be named due to the sensitivity of the issue, did not disclose any more details such as the timing of the sale and amounts involved.

The agency held a combined 312.3 trillion won ($240.21 billion) worth of foreign stocks and bonds as of the end of April, according to the latest data from the agency.

South Korea’s won has been on the decline against a broadly stronger dollar in recent months and fell below a psychologically important 1,300 won-per-dollar level this month for the first time since 2009. ($1 = 1,300.1000 won)

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