South Korea moves to curb excessive won volatility with inspections and new measures
South Korea’s finance ministry announced a series of immediate steps to address what it called excessive volatility in the won, which fell to its lowest level since 2009 at around 1,540 per dollar. The government will launch its first joint inspection of major foreign‑exchange banks in 14 years, tighten monitoring of speculative trades, and coordinate with the Bank of Korea and U.S. officials to stabilize the market. The actions come amid sharp declines that have raised concerns about market‑disrupting speculation. Authorities warned that they will examine suspicious transactions, reinforce stabilization tools, and keep a close watch on domestic stock and bond markets to prevent further pressure on the currency.
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Finance minister vows to take 'immediate measures' over excessive FX volatility
South Korea's finance minister on Thursday vowed to take "immediate measures" when necessary to address excessive volatility in the foreign exchange market amid the recent sharp decline of the Korean ...
(LEAD) Finance minister vows to take 'immediate measures' over excessive FX volatility
South Korea's finance minister on Thursday vowed to take "immediate measures" when necessary to address excessive volatility in the foreign exchange market amid the recent sharp decline of the Korean ...
South Korean Deputy Finance Minister Moon Ji-sung met with U.S. foreign exchange officials during a recent trip to Washington to discuss currency market conditions and agreed to cooperate in dealing with a weak won, Yonhap News Agency reported on Sunday.
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