Korea Investment Securities announced on the 1st that it launched the 'foreign currency RP (repurchase agreement) automatic gathering service' through the Toss Bank mobile app.
This service allows customers to choose a desired cycle of daily, weekly, or monthly investments, and a specified amount will be automatically invested in foreign currency RP. Investments can start from a minimum of $10, and assets can be managed easily with just the initial setup, without the need for repetitive registration procedures. Investment cycles and amounts can be changed at any time.
Foreign currency RP is a financial product that allows the receipt of an agreed yield and principal on the maturity date. It offers competitive rates compared to market interest rates and can also provide exchange gains, making it commonly used for short-term management of foreign currency assets.
Korea Investment Securities also launched a foreign currency RP product with a special rate of 4.1% (pre-tax). Investments can start from a minimum of $100, and customers can invest at any time, except during non-exchange hours on the Toss Bank app (from 6 a.m. to 9 a.m.).
Special rate products may be terminated early when the sales limit is reached. Dollars needed for investment will be automatically exchanged at a 90% preferential exchange rate.