S. Korea issues US$1 bln FX stabilization bonds

The finance ministry said Thursday that it sold US$1 billion worth of foreign exchange stabilization fund bonds.The single-tranche bond with a maturity of five years was sold at an interest rate of 4.5 percent, which marked the first sale of U.S. dollar-denominated bonds since 2021, according to the Ministry of Economy and Finance.Currency stabilization bonds are designed to raise the money needed by the government to keep foreign exchange rates stable.Source: Yonhap News Agency