South Korea’s central bank will buy government bonds worth 1.5 trillion won ($1.27 billion) to stabilize markets facing rising uncertainties and volatility triggered by Donald Trump’s victory in the U.S. presidential election and imminent U.S. rate hike.

The Bank of Korea (BOK) said Friday that it would purchase 1.5 trillion won worth government debts with maturities of 3, 5, and 10 years through competitive bidding at 2:00 p.m. on Monday for 10 minutes.

The BOK bought 700 billion won worth government bonds in the open market last October to increase repurchase agreement (RP). But the massive purchase of treasury bonds by the central bank for the purpose of stabilizing wobbly financial market would take place for the first time since 2008 when the nation’s economy was hit hard by the global financial crisis. The move seems to have come amid rising uncertainties in the markets facing triple whammy of surging bond yield and growing volatility in the stock and currency market.

On Friday, the yield of the three-year government bonds hit a record high for this year of 1.736 percent, up 2.3 basis points from the previous session, keeping its winning streak for 7th straight session. The yield jumped 0.331 percentage point in just eight sessions from 1.425 percent on November 8, the U.S. presidential election day. The dollar gained 7.3 won to close at a 5-month high of 1,183.2 won on Friday.

Foreign investors dumping Korean stocks have also added to concerns. Overseas investors have net sold 1.7 trillion won worth local stocks on Seoul bourse from November 1 to 18. If this selling spree continues, their net sale of local stocks would exceed net purchase for the first time in 10 months.

By Chun Jung-hong and Moon Il-ho

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