Archive for the ‘South Korean Won’
South Korean Won Rallies, Will Government Intervene?
The South Korean won extended its gains for the fifth day after the macroeconomic data from the US eased the concerns about the global economic growth. The yesterday’s report showed that the conditions of the service industries in the US were better than estimated and the report today expected to show that the number of jobless claims decreased. The government may intervene to limit the currency’s gains, but this month the won may continue to rise. USD/KRW traded [...]
South Korean Won Rises with Interest Rates
The South Korean won rose today after the central bank increased the interest rates for the first time since the beginning of the global economic recession. The Bank of Korea increased the seven-day repurchase rate to 2.25 percent from the record low level of 2 percent. The International Monetary Fund stated three days ago that South Korea’s monetary policy is “somewhat beyond what is necessary to support the recovery” and the nation needs to gradually [...]