Financial authorities say Korean won's sharp weakness eased, yet volatility remains
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Top financial authorities said Thursday excessive depreciation of the Korean won has eased somewhat since the end of last year, but the country's foreign exchange market continues to show high volatility. In a meeting on the financial market, Finance Minister Koo Yun-cheol said authorities would continue to implement follow-up stabilization measures on the foreign exchange market promptly, following a series of actions taken in late December. The meeting was also attended by Bank of Korea Gov. Rhee Chang-yong, Financial Supervisory Service Gov. Lee Chan-jin and Financial Services Commission vice chief Kwon Dae-young, according to the finance ministry. In late December, foreign exchange authorities warned against the won's recent excessive weakness and pledged strong policy execution to stabilize the foreign exchange market. "Participants agreed that, given the current exchange rate is disconnected from fundamentals, it is important for authorities to maintain firm and consistent policy efforts," the ministry said in a press release. On Dec. 24, foreign exchange authorities said an excessiWeiter zum vollständigen Artikel bei Korea Times
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Quelle: Korea Times