NPS Sells Dollars as South Korean Won Hits 17-Year Lows
Korea's pension fund is selling dollars to support the won near 17-year lows. The move aims to curb volatility as the currency trades near 1,500 per dollar.
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South Korea's state-run pension fund, the world's third-largest, is reportedly conducting strategic foreign exchange hedging operations to support the local currency. Sources indicate that the National Pension Service (NPS) is supplying dollars to the market as the won remains near 17-year lows. This move marks a shift for the 1,458 trillion won ($973.04 billion) fund, which has traditionally purchased dollars unhedged for its international investments, a practice that often contributed to won weakness.
