Bank of Korea flags risk of stronger downward pressure on won

Quick Summary:

SEOUL: South Korea's central bank said on Wednesday (Jun 26) there was a possibility of downward pressure mounting again on the won currency, and vowed to step up monitoring of risk factors and stabilise markets as required.

The won's recent weakness was steeper than the rise in the US dollar, while most investment banks still expect the won to stabilise towards the end of the year, the BOK said.

FILE PHOTO: A South Korea won note is seen in this illustration photo May 31, 2017.

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Article Details

Category: EconomyBusiness

Markets: SingaporeJapanSouth Korea

Topics: Bank Korea Pressure Real Downward Possibility South Risk Central Factors Financial

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-26 @ 10:06:00 (2 days ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 356 words

Reading Time: 2 minutes read

Sentences: 13 lines

Sentence Length: 28 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 21391109

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