S. Korean FinMin: Will take action to stabilize fx market if needed, KRW off 18-month tops

Dhwani Mehta FXStreet

“We will take action to stabilize the currency market if needed,” South Korean Finance Minister Hong Nam-ki said on Thursday.

He added that they are monitoring the fx market.

Meanwhile, Reuters reports that the Bank of Korea, the South Korean central bank, is suspected of buying the US dollars to curb the appreciation of the Korean won (KRW).

Market reaction

On the above headlines, the won is paring gains against the greenback.

The USD/KRW bounces-off 18-month lows of 1,130.61, now trading at 1,135.10, still up 0.22% on the day.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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