Exchange Rate
Bank of Korea holds key rate steady amid weak won
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South Korea's central bank decided to keep its benchmark interest rate at 2.5 percent during a monetary policy meeting in Seoul on January 15. This marks the fifth consecutive hold since July, driven by a weakened won and inflation concerns that limit further easing. BOK Governor Rhee Chang-yong emphasized a data-driven approach, leaving room for potential rate cuts in the next three months amid high uncertainty.
Despite the Candlemas Day holiday, the Mexican peso gained ground against the dollar in electronic trading, appreciating by 0.32 percent. The exchange rate stood at 17.40 units per dollar, two cents lower than the Bank of Mexico's close from the previous Friday. Analysts warn of a potential correction due to the peso's overbought status in January.
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Economist Alejandro Barros explained that stabilizing the exchange rate and increasing the peso's role in Argentina's economy will further reduce country risk. Barros stated that eliminating distortive exchange rates is key to this trend. The government celebrates the current drop but prioritizes reserve accumulation before returning to debt markets.
Argentina's Central Bank has launched four administrative probes against exchange houses for irregular operations exceeding US$1.190 million in 2022 and 2023. Investigations uncovered dollar loans to low-income individuals and potential diversions to the informal market. The probe involves the Financial Information Unit and federal courts.
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Continuing its strong run from last week when it first approached 18 per dollar, the Mexican peso edged up 0.02% to close at 17.99 against the US dollar on December 19, following a 25 basis point cut by the Bank of Mexico. Bank quotes show the dollar at 18.47, with analysts eyeing potential corrections amid rising dollar strength.
South Korean stocks opened lower on Monday ahead of the US Federal Reserve's rate-setting meeting. The KOSPI index fell 0.2 percent to 4,091.74 in early trading. Investors are adopting a wait-and-see approach, anticipating a 0.25 percentage point cut by the Fed.
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The Central Bank of Argentina (BCRA) released the November 2025 Market Expectations Survey (REM), drawing on forecasts from 46 consultancies and banks. Analysts predict declining inflation, moderate GDP growth, and a stable exchange rate for next year. The report outlines a scenario of relative economic calm.
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