Markets
Print edition: 2017-02-04
South Korea unlikely to be labelled currency manipulator by US
1 min
South Korea cannot be designated as a currency manipulator by the United States based on current US government criteria, South Korea's finance minister said on Friday. Finance Minister Yoo Il-ho told reporters the United States was unlikely to make 'careless' decisions on the issue of labelling South Korea a currency manipulator, saying that Seoul would be able to explain that market forces are the main determinant of the won exchange rate.
South Korea's foreign exchange authorities have maintained their stance that the currency rates are largely dictated by market forces, but have reiterated that they will intervene to reduce any extreme volatility.
Copyright Reuters, 2017
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No content from Business Recorder shall be reproduced, published, broadcast, rewritten for broadcast or publication, or redistributed directly or indirectly in any medium.
Business Recorder shall not be responsible or held liable for any error of fact, opinion or recommendation and also for any loss, financial or otherwise, resulting from business or trade or speculation conducted, or investments made, on the basis of the information posted here. Nor shall Business Recorder be held liable for any actions taken in consequence." >Copyright Reuters, 2017