The Bank of Korea is expected to put a pause on the policy rate increase next month following the Fed’s rate hike Wednesday that matched general market expectations.
The Kospi plunged more than 2 percent on Tuesday on concerns of the contagion effects of the Silicon Valley Bank (SVB) fallout.
Korea’s foreign reserves fell for the first time in four months in February as a stronger dollar reduced the conversion value of holdings in other currencies, according to data from the Bank of Korea on Monday. The country’s foreign reserves were...
Korea's foreign reserves shrank for the first time in four months in February as a stronger dollar reduced the conversion value of holdings in other currencies, central bank data showed Monday.
Korea will extend foreign exchange trading hours as part of the effort to improve the country’s financial markets.
Korea and Australia renewed their currency swap deal Monday, the finance ministry and central bank said, to ensure a steady exchange of goods and services between the two countries.
Foreign investors are buying heavily in the Korean market just as retail investors are dumping.
Foreign currency deposits at banks in Korea hit an all-time high in December, as corporate dollar savings increased, central bank data showed Wednesday.
Europe’s unseasonably warm weather has brought pleasant surprises for the Korean economy due to lowered energy prices and a weakening dollar. Energy consumption plummeted in Europe as it experienced a historically warm winter.
The won is on a relentless tear driven in part by investors betting inflation will be tamer than expected and rate rises may slow or stop.