South Korea central bank sold net $5.85 billion in forex intervention in first-quarter

South Korea’s central bank said on Tuesday it sold a net $5.851 billion during the first quarter to ease the won’s <KRW=KFTC> volatility, which has sharply heightened amid the coronavirus pandemic.

This compared with the previous quarter when the bank’s net dollar purchases and sales were on par.

The daily average volume of dollar/won transactions in the domestic interbank market amounted to $7.71 billion in the first quarter, compared with $6.69 billion in the previous three-month period, data from the central bank showed.

The won traded in a range from 1,296.0 to 1,150.6 per dollar during the January-March period, Refinitiv data shows.

(Reporting by Joori Roh; Editing by Andrew Heavens)

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