South Korea Warns of Decisive Action Over Won's Excessive Drop Against Dollar
Updated
Updated · Bloomberg · May 22
South Korea Warns of Decisive Action Over Won's Excessive Drop Against Dollar
1 articles · Updated · Bloomberg · May 22
South Korea’s finance ministry and central bank said Friday they were closely watching the dollar-won rate and would take decisive market action if needed.
A joint message to reporters said the won’s recent moves were excessive relative to economic fundamentals, escalating verbal intervention after the currency’s sharp slide against the dollar.
The warning signals authorities are trying to curb further won weakness before it feeds broader market volatility.
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