Photo : YONHAP News
Bank of Korea(BOK) Governor Rhee Chang-yong says the bank is focusing more on volatility than on any target rate with regard to the won’s exchange which is showing signs of sharply weakening against the U.S. dollar.
Rhee made the remark on Friday in Washington to South Korean reporters after attending the G20 Finance Ministers and Central Bank Governors Meeting and the annual meetings of the International Monetary Fund and World Bank Group.
On whether the bank will intervene, Rhee said the bank will consider whether adjustments are necessary if the won-dollar rate breaks away excessively from a boxed range.
The central bank is expected to determine whether or not it is necessary to intervene after watching the results of the November 5 U.S. presidential election and the outcome of a meeting of the Federal Open Market Committee slated for November 6 to 7.