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The US treasury market reaches breaking point

The US treasury market reaches breaking point

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Skip Navigation LinksHome :: Markets/asset classes :: Foreign exchange :: Bank of Korea: Won unlikely to fall further.

Friday, July 4, 2008

Bank of Korea: Won unlikely to fall further.





Bank of Korea: Won unlikely to fall further. According to the Korea Herald , Bank of Korea Deputy Governor Rhee Gwang-ju stated recently that Korea's current-account deficit was expected to decline to USD 2.5bn in H2 from USD 6.5bn in H1. Gwang-ju said that the Won was unlikely to depreciate further during the year. Gwang-ju also said that the recent decline in Asian currencies was not an indication that the region would see a financial crisis similar to the one in 1997. Meanwhile, a recent survey by Bloomberg News showed that analysts expected the Won to appreciate by 5% to KRW 995 against the Dollar by Dec 31. The Won has depreciated by 11% so far this year.







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