Seoul moves to stem won slide

The Bank of Korea and ministry of finance issued a joint statement on Monday declaring their intention to intervene to prevent further falls in the foreign exchange market.

``We are concerned about the currency market being skewed in one direction, and we will keep a closer watch on the movement of the foreign exchange rate,'' the authorities said.

The won has fallen just over 10% against the dollar in the year to date. It recovered slightly on Monday, closing in Seoul up 7.5 won at 1,042 to th

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: