Won-Dollar Exchange Rate Opens Up 4.8 Won... Bank of Korea Holds Meeting on North Korea's Liaison Office Explosion

[Image source=Yonhap News]

[Asia Economy Reporter Kim Eun-byeol] The Bank of Korea held a 'Monetary and Financial Countermeasures Meeting' on the morning of the 17th, chaired by Deputy Governor Yoon Myeon-sik, to assess the international financial market's reaction and the impact on domestic financial and foreign exchange markets regarding North Korea's demolition of the inter-Korean liaison office.

The meeting was attended by Deputy Governors Yoo Sang-dae and Park Jong-seok, as well as the Director of Monetary Policy, Director of Financial Markets, Public Relations Officer, and Head of Investment Management Department.

The Bank of Korea stated, "In the international financial market, Korean bonds showed a slight weakening of the won, but the spread on foreign exchange stabilization bonds and CDS premiums narrowed, indicating a limited impact."

It added, "Given the ongoing concerns about the resurgence of COVID-19, and the possibility that market volatility may further increase depending on the development of North Korean risks, we plan to closely monitor market conditions with caution."

Meanwhile, in the Seoul foreign exchange market on the same day, the won-dollar exchange rate opened at 1,212.0 won, up 4.8 won from the previous day.

This content was produced with the assistance of AI translation services.