POSCO sells dlrs to stabilise mkt,to sell dlr bond
SEOUL |
SEOUL Oct 10 (Reuters) - South Korea's POSCO (005490.KS) said on Friday it had sold $100 million in the domestic market for the local won currency and planned to sell $1 billion bonds overseas as the country struggles with the dollar squeeze.
"The move is to help stabilise the Korean won and the sale of foreign bonds is to secure our operating funds," a POSCO spokeswoman said.
POSCO has yet to decide when to issue the $1 billion of bonds. (Reporting by Miyoung Kim; Editing by Keiron Henderson)
- Tweet this
- Link this
- Share this
- Digg this
- Reprints
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.
Follow Reuters