SEOUL, May 2 (Korea Bizwire) — Finance Minister Choi Sang-mok vowed Thursday to stay vigilant on uncertainties regarding interest rate decisions by major economies and the Middle East crisis and to take bold market stabilization steps when necessary. Choi made the remarks during an emergency macroeconomic meeting meant to assess the Federal Reserve’s rate-setting meeting [...]
WASHINGTON, Apr. 18 (Korea Bizwire) — Exchange rate volatility does not present ‘significant” economic challenges to South Korea, an official at the International Monetary Fund (IMF) said Thursday, advising policymakers in Seoul not to “overly” focus on what moves the U.S. Federal Reserve will take. During a press briefing, Krishna Srinivasan, director of the IMF’s [...]
SEOUL, Apr. 17 (Korea Bizwire) – South Korean and Japanese finance ministers have voiced serious concerns over the sharp weakening of their currencies against the U.S. dollar and said they can take steps to curb market volatility amid escalating tensions in the Middle East, Seoul’s finance ministry said Wednesday. The verbal intervention by South Korea’s [...]
SEOUL, April 12 (Korea Bizwire) – The won’s movement against the dollar widened slightly in March from a month earlier, central bank data showed Wednesday. The session-over-session changes in the dollar-won exchange rate averaged 0.47 percent last month, compared to 0.39 in February, the Bank of Korea (BOK) said. “The won rose against the dollar [...]