An Hana Bank employee checks yen and dollar sat Hana Bank's Counterfeit Notes Response Center in Jung District, central Seoul. The yen-to-dollar exchange rate stands at 155 yen, marking a record low for the first time in 34 years.
The Korean won has stabilized against the dollar and is expected to hold steady in the absence of worsening tension in the Middle East.
The International Monetary Fund's Asia director said the current exchange rate volatility does not pose a significant challenge to Korea, calling for the Bank of Korea to decouple from the U.S. Federal Reserve's monetary policy.
Lee's idea of gaining popularity at the expense of damaging the public finance and national credibility won’t please that many people.
The finance ministers of Korea and Japan jointly addressed the recent drastic depreciation of their respective countries' currencies against the dollar, signaling potential market intervention on Tuesday.
Korea’s stock market retreated and the won reached its weakest point against the greenback in 17 months on Monday as tensions in the Middle East escalated following Iran’s recent strikes against Israel.
The value of yen plummeted to a 34-year low against the dollar in New York Wednesday, falling below the 153 line.
Stocks started higher Tuesday ahead of parliamentary elections and the release of key U.S. inflation data later this week.
An employee holds yen bills at Hana Bank's Counterfeit Notes Response Center in Jung District, central Seoul on Wednesday.
Korea JoongAng Daily Sitemap