Views Article – Sharenet Wealth

Asia, Forex

S.Korea chief: not defending won at specific level

SEOUL, Aug 1 (Reuters) – South Korea’s central bank chief said on Thursday local foreign exchange authorities were not defending any specific dollar/won level.

Bank of Korea Governor Lee Ju-yeol said “it is not true”, when asked by reporters to comment on speculation among traders that the authorities were defending a specific level.

Currency traders in Seoul have said authorities were suspected of repeatedly selling dollars when the dollar/won approached a certain level. (Reporting by Seunggyu Lim Writing by Choonsik Yoo Editing by Shri Navaratnam)

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