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- S. Korea’s Vice FinMin: Will respond to herd-like behaviors in financial markets
S. Korea’s Vice FinMin: Will respond to herd-like behaviors in financial markets
South Korea's Vice Finance Minister Yong-beom Kim said on Monday that they “will respond to herd-like behaviors in financial markets.”
He added that they “need to monitor the financial market.”
Yong-beom Kim said on Friday that “we are monitoring the fx market.”
His comments come as Yonhap news agency reports that the government may increase city gas rates due to rising costs and a weaker won.
Earlier on, South Korea's new central bank Governor Rhee Chang-yong said that “rising US interest rates will lead to higher inflation in Korea via won.”
Market reaction
USD/KRW was last seen trading at 1,342, flat on the day. The South Korean won (KRW) licks its wounds after falling sharply against the US dollar on Friday after Fed Chair Jerome Powell’s hawkish stance.
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