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40 billion # of foreign exchange hedging pours in at 1,410 won for the national pension, which is scarier than the foreign exchange authorities.
Reporter Choi Jin-woo, Noyoban
0 input 2024.04,.17 1055
0 Modified 2024.04.17 16.09
Market expected to pour in at least $40 billion “The upper end is virtually blocked.”
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In 2022, the dollar and won lost 62 won in one day due to the Deputy Prime Minister’s request for currency hedging.
(Seoul-Yonhap Infomax) Reporter Choi Jin-woo and Noyoban = As the dollar-won exchange rate rises sharply, the National Pension Fund is also above the foreign exchange hedge.
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The dollar-won price of 1,410 won is slightly above that, with at least $40 billion worth of large-scale foreign exchange hedging waiting for the National Pension Service.
This is expected to impose strong restrictions on upward pressure:
According to the National Pension Service and the foreign exchange market on the 17th, the dollar-won level at which the National Pension Service engages in currency hedging is slightly above the 1,410 won line.
BOOM
There is no confirmation.
This means that when the dollar-won price reaches around 2,410 won, the National Pension Service will mechanically begin selling forward exchange.
Geumwoom institutions, such as commercial banks that accepted the National Pension Service’s forward currency sales, went to the spot market to hedge the forward currency position.
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National Pension Salsal Recording