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BOK Injects 7Tln Won into Financial Institutions Ahead of Chuseok

Written: 2017-09-29 16:39:06Updated: 2017-09-29 19:04:40

BOK Injects 7Tln Won into Financial Institutions Ahead of Chuseok

Some seven trillion won has been injected into financial institutions ahead of the ten-day-long Chuseok holidays.
 
The Bank of Korea announced on Friday that around seven-trillion-16-billion won was supplied to financial institutions between last Monday and this Friday, or ten business days prior to the Chuseok holidays.
 
The figure is around two-point-one trillion won more compared to last year, when the holiday period was just five days while this year it will be ten.
 
The central bank expands the money supply during major holidays, including the lunar New Year's Day and Chuseok, as demand for cash surges during those periods.

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