Market Chatter: SK Hynix Sells $20 Billion of US Dollars Raised via ADR to South Korean FX Authorities

MT Newswires Live
4 hours ago

SK hynix (KRX:000660) sold about $20 billion of US dollars to South Korean foreign exchange authorities after raising $26.5 billion through an American depositary receipt listing in July, Reuters reported Wednesday, citing a source with direct knowledge of the matter.

The Foreign Exchange Stabilization Fund, managed by South Korea's finance ministry and the Bank of Korea, purchased the dollars in over-the-counter transactions as SK Hynix brought the funds back to South Korea, the report said.

SK Hynix declined to comment when reached by MT Newswires.

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