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

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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.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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