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Business & Finance

BoK to offer 1.5tn won in deposit facility

Published Updated

south-koreaSEOUL: South Korea's central bank said it would hold an auction later on Tuesday to offer 1.5 trillion won ($1.27 billion) in 20-day term-deposit facility, a tool used to absorb surplus cash from the financial system.

The auction will be held for 10 minutes from 2:10 p.m. (0510 GMT), the Bank of Korea said in a statement.

Copyright Reuters, 2011

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