# SK HYNIX | South Korean FX authorities bought $20 bln in repatriated SK Hynix funds, source says

> Reuters, citing a source, reports that South Korean FX authorities bought about $20 billion from SK Hynix's repatriated dollar proceeds from its US ADR listing. The purchases went through the Foreign Exchange Stabilization Fund to stabilize FX volatility and replenish reserves.

- Date: 2023-05-25 · published 2023-05-25T12:00:00.000Z
- Category: policy · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/36203-sk-hynix-south-korean-fx-authorities-bought-20-bln-in-repatriated-sk-hynix
- Commodities: [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md)

## Why it matters

Large state dollar purchases support the won and can lower the local cost of dollar-priced feed imports. The effect on global feed commodity prices is small.

## Read by commodity

- USDKRW: bearish ▼

## Sources

- stockopedia.com: https://www.stockopedia.com/share-prices/sk-hynix-KRX:000660/news/south-korean-fx-authorities-bought-20-bln-in-repatriated-sk-hynix-funds-source-says-01a06115-86e9-7620-b54b-50b812679e6b/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.