Foreign Exchange
Finance Minister signals extra vigilance on foreign exchange volatility
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Finance Minister Koo Yun-cheol said Friday the government is taking extra vigilance over recent volatility in the foreign exchange market.
Atsushi Mimura stated that forex intervention serves as a key tool to send messages to markets. The Finance Ministry official said it should be deployed when exchange rate moves clearly deviate from economic fundamentals.
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The South Korean won weakened sharply to 1,529.7 won per dollar on June 4, its lowest intraday level since March 31, amid renewed U.S.-Iran airstrikes. The KOSPI closed down 1.84 percent at 8,639.41.
The dollar blue closed lower on Friday, January 9, 2026, reaching 1,505 pesos for selling, while the official dollar at Banco Nación stood at 1,490 pesos for selling. Other financial quotes like MEP, CCL, and crypto showed slight variations. In Córdoba, official rates matched the national ones.
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Nigeria's external reserves have risen 10.8% year-over-year to $45.28 billion. This growth reflects strengthening foreign exchange buffers.
Dollar deposits by companies at local banks rose at the fastest pace of the year in November despite a strengthening U.S. dollar. Outstanding balances at five major commercial banks reached $53.7 billion as of Thursday, up 21 percent from $44.3 billion a month earlier. The surge reflects firms' accelerated efforts to bolster dollar holdings amid rising U.S. investments and foreign exchange uncertainties.
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Finance Minister Koo Yun-cheol said on Wednesday that the government will take 'decisive action' if excessive volatility hits the foreign exchange market, as the Korean won continues to weaken against the U.S. dollar. The rapid decline of the won has led the Ministry of Economy and Finance, the Bank of Korea, the National Pension Service, and the Ministry of Health and Welfare to form a joint consultation body. The group aims to create a 'new framework' balancing pension returns with FX stability.
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