BOK offers net 4.35 tln won in liquidity ahead of holiday
Published : 2013-02-08 13:21
Updated : 2013-02-08 13:21
South Korea's central bank said Friday it provided a net 4.35 trillion won (US$3.98 billion) in liquidity into the financial system to help money smoothly flow ahead of the Lunar New Year holiday.
The Bank of Korea (BOK) said that its money injection for the 10 business days leading up to the holiday was slightly down from a net 4.39 trillion won provided the previous year.
The BOK said the reduced supply mainly came as this year's Lunar New Year holiday is one day shorter than last year.
The Lunar New Year holiday, which falls on Sunday, is one of Korea's biggest holidays. Families gather to pay respects to their ancestors, and visit relatives and friends.