Korea Business News Agency - NSP NEWS AGENCY.

(Seoul=NSP News Agency) soon ki Lee Journalist = Lee Seung-heon, Vice-Governor of the Bank of Korea, said, “The depreciation of the won is faster than the fundamentals of the Korean economy.”

On September 7, the BOK held an ‘Emergency Market Situation Inspection Meeting’ presided over by Vice-Governor Lee to check the recent domestic and international financial and foreign exchange market conditions.

At the meeting on the same day, Vice-Governor Lee said, “The won-dollar exchange rate has risen rapidly mainly due to the strengthening austerity expectations of the U.S. Federal Reserve and increased uncertainty in the international financial market.” “This trend is also common in major currencies, but the recent bearish rate in the won is faster than the fundamentals of the Korean economy.” he judged.

Fundamental refers to major macroeconomic indicators such as economic growth rate, inflation rate, and unemployment rate that indicate the economic condition of a country.

“We will continue to closely monitor the foreign exchange market trends and actively strive to stabilize the market,” he said.

“As the volatility of the foreign exchange market is highly likely to increase due to the European Central Bank(ECB) monetary policy decision meeting, etc., we need to strengthen our response posture, such as strengthening the monitoring of international financial market trends during the Chuseok holiday.” he instructed.

The BOK plans to hold a ‘Market Situation Inspection Meeting’ presided over by Vice- Governor Lee at 8 am on the 13th to comprehensively check the international financial market situation during the holiday period.

NSP News Agency soon ki Lee Journalist s8789@nspna.com
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