South Korea’s central bank said it has no option to sell its dollar holdings so far. The dollar rose on the news.
The dollar traded at 104.45 yen at 8:07 p.m. EST, 0.4% rise during the day and 1.5% surge as compared with Tuesday. The euro was at 138.40 yen, gaining 0.4% in the day.

In last night’s press release issued in Seoul the Bank of Korea said it was planning to invest more in non-government securities, rather than sell dollars and buy assets in other currencies. It did not comment whether it planned to invest new reserves.

South Korea is the fourth largest foreign currency reserves holder. Its currency, won, gained the biggest profits among the 17 major currencies in the world today. It boosted on the news that the central bank of South Korea planned to invest in higher-yielding investments than U.S. Treasuries, including Australian and Canadian dollar assets.