April 26, 2024
Finance
Korea monitors possible foreign capital outflow
[THE INVESTOR] The head of South Korea’s financial watchdog said on Nov. 21 that guaranteeing the stability of the nation’s foreign exchange liquidity is quite urgent.
Zhin Woong-seob, governor of the Financial Supervisory Service, quoted the possibility of a sudden outflow of foreign capital in the wake of the continued depreciation of the country‘s currency versus the US dollar amid speculation that the US.
Federal Reserve will increase its key interest rate next month. Presiding over a meeting of top FSS officials, Zhin called for a 24-hour monitoring of major market data and foreign investment trends, according to the Seoul-headquartered agency.
“If any unusual indication is detected, we should take action against it swiftly in accordance with contingency plans,” he was quoted as saying.
He pointed out the need for a more thorough management of foreign exchange liquidity against the likelihood of foreign capital outflow.
Zhin urged all FSS officials to handle the potential risks in a “calm, cool-headed and pre-emptive” manner.
(theinvestor@heraldcorp.com)
Zhin Woong-seob, governor of the Financial Supervisory Service, quoted the possibility of a sudden outflow of foreign capital in the wake of the continued depreciation of the country‘s currency versus the US dollar amid speculation that the US.
Federal Reserve will increase its key interest rate next month. Presiding over a meeting of top FSS officials, Zhin called for a 24-hour monitoring of major market data and foreign investment trends, according to the Seoul-headquartered agency.
“If any unusual indication is detected, we should take action against it swiftly in accordance with contingency plans,” he was quoted as saying.
He pointed out the need for a more thorough management of foreign exchange liquidity against the likelihood of foreign capital outflow.
Zhin urged all FSS officials to handle the potential risks in a “calm, cool-headed and pre-emptive” manner.
(theinvestor@heraldcorp.com)
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