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South Korea's financial authorities, including the central bank governor Rhee, have expressed concerns over recent excessive volatility in the foreign exchange market. In a CNBC interview, Governor Rhee noted the market's excessive moves and stated readiness to deploy stabilization measures if volatility continues. The South Korean FX Authority highlighted undesirable herd-like behavior and is closely monitoring the market with caution on currency movement, supply, and demand. This response comes as the South Korean won has rapidly weakened, touching critical levels, prompting increased scrutiny from policymakers in Seoul.
Bank of Korea chief says won volatility is a little 'excessive' and will intervene if needed https://t.co/BblOON8nZC
South Korea, Japan signal readiness to respond to excessive FX volatility https://t.co/Y0cnCx0CPj
Policymakers in Seoul have stepped up their commentary on the won as the currency weakens rapidly and briefly touched a key level https://t.co/ROT57m5XqO
S.KOREA CENTRAL BANK GOVERNOR RHEE SAYS RECENT FX MOVES EXCESSIVE, READY TO DEPLOY MEASURES TO STABILIZE IF VOLATILITY CONTINUES -RHEE AT CNBC INTERVIEW
S.KOREA https://t.co/uuSk61aHqj GOVERNOR RHEE: RECENT FOREIGN EXCHANGE MOVES EXCESSIVE, PREPARED TO IMPLEMENT MEASURES TO STABILIZE IF VOLATILITY CONTINUES
S.KOREA FX AUTHORITY: EXCESSIVE HERD-LIKE BEHAVIOUR IN FX MARKET UNDESIRABLE
S.KOREA FX AUTHORITY: CLOSELY MONITORING FX MARKET WITH CAUTION ON CURRENCY MOVEMENT, SUPPLY AND DEMAND