Currency Policy
US Treasury keeps South Korea on currency monitoring list
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The US Treasury Department announced on Thursday (local time) that it is keeping South Korea on its foreign exchange monitoring list. The report assesses that the recent weakness of the Korean won does not align with the country's strong economic fundamentals and views it as excessive depreciation. The South Korean government plans to maintain close communication with the US to ensure market stability.
Economy Minister Luis Caputo reaffirmed his commitment to the currency bands system at the annual Fundación FIEL conference, ruling out any dollar liberalization in the short term. Journalist Eugenia Muzio highlighted this firm defense in a Canal E interview, contrasting it with views from former ministers advocating free floating. Caputo stressed stability and plans to bolster the Central Bank.