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US keeps S. Korea on currency monitoring list, notes won stabilization efforts
🇰🇷 South Korea /Economy & Trade

US keeps S. Korea on currency monitoring list, notes won stabilization efforts

From Chosun Ilbo · () Korean

Translated from Korean, summarized and contextualized by DistantNews.

At a glance

Newswire Official statement New plan
  • The United States has kept South Korea on its currency monitoring list, noting efforts to ease downward pressure on the won.
  • The U.S. Treasury acknowledged South Korea's focus on mitigating won volatility through market interventions.
  • Progress was also noted in easing restrictions on foreign investor participation in the foreign exchange market.

The United States has decided to maintain South Korea on its list of countries under currency monitoring. In its report submitted to Congress on Tuesday (local time), the U.S. Treasury acknowledged that South Korea's foreign exchange authorities have focused on mitigating downward pressure on the won through market interventions.

The Treasury's assessment indicated that South Korea's foreign exchange authorities have concentrated their efforts on stabilizing the currency amidst pressures that could lead to its depreciation. This approach aims to ensure a more orderly foreign exchange market.

Furthermore, the U.S. Treasury noted that South Korea has made progress in easing limitations on the participation of foreign investors within the foreign exchange market. This suggests a move towards greater openness and accessibility for international capital flows.

DistantNews Editorial

Originally published by Chosun Ilbo in Korean. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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