The Bank of Korea: "Low Possibility of Full-Scale US-Iran Conflict... 24-Hour Monitoring"

"Related issues frequently highlighted, volatility likely to increase"
"Market stabilization measures if necessary"

[Asia Economy Reporter Eunbyeol Kim] The Bank of Korea announced on the 8th at 2 p.m. that it held a 'Monetary and Financial Countermeasures Meeting' chaired by Deputy Governor Yoon Myeon-sik to assess the impact of Iran's retaliatory attacks against the U.S. on the domestic financial and foreign exchange markets.

Deputy Governor Yoon stated, "The prevailing view is that the tension between the U.S. and Iran is unlikely to escalate into a full-scale military conflict," but noted that related issues frequently arise, which could increase volatility in the domestic financial and foreign exchange markets.

Therefore, the Bank of Korea said it will operate a 24-hour monitoring system centered on relevant departments (Financial Market Department, International Department, Foreign Exchange Operations, International Economic Department, Overseas Offices) to closely monitor market conditions.

He added, "We will share information with the government and cooperate closely on market conditions, and take market stabilization measures if necessary."

On that day, volatility in the domestic financial and foreign exchange markets expanded significantly in the early session but somewhat calmed down as volatility decreased later. The won-dollar exchange rate rose to around 1,178 won in the early session but fell to the low 1,170 won range in the afternoon.

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