Bank of Korea Governor Expresses Doubt on Won's Exchange Rate Stability

In a recent meeting with lawmakers, as reported by Yonhap news agency, Bank of Korea Governor Rhee Chang-yong stated that it is challenging for the dollar-won exchange rate to revert to previous levels. The governor's comments come amid a wait-and-see market mood, with the exchange rate currently quoted at 1,427.8 per dollar, reflecting a slight recovery from last week's two-year low of 1,442.0, influenced by political turbulence.

The governor emphasized that it is difficult to assert that the dollar-won rate has stabilized, highlighting the ongoing uncertainties in the market. This statement underscores the Bank of Korea's cautious approach to the current economic climate and its implications on the national currency.