Bank of Korea — News Archive


South Korean Won Choppy As Investors Fear Potential COVID-19 Lockdown

The South Korean won is trading choppy in the middle of the trading week as investors begin to weigh the possibility of another lockdown related to the coronavirus pandemic. Despite South Korea flattening the curve in March, the nation has been experiencing an uptick in infections for most of August. The country is already in a recession, so another wave of restrictions could exacerbate the downturn.

South Korean Won Flat As Central Bank Cuts Interest Rates to Record Low

The South Korean won is trading flat against its currency rivals on Thursday as investors weigh the central bank’s decision to cut interest rates to an all-time low. Policymakers warned that the economic fallout from the coronavirus pandemic would be worse for South Korea than the global financial crisis a decade ago. But while it looks like Seoul has the public health crisis under control, officials have been […]

South Korean Won Gains on US Dollar, Ignoring Negative Fundamentals

The South Korean won gained against the vulnerable US dollar today even though fundamentals were not supportive to the Asian currency.

Won Gains Even as Bank of Korea Cuts Base Rate

The South Korean won rallied today even though the nation’s central bank cut its Base Rate unexpectedly. The most likely reason for the rally was the weakness of the US dollar, though the won gained versus the euro as well.

South Korean Won Drops on Interest Rate Cut Speculations

The South Korean won declined today as comments of South Korea’s official made Forex market participants speculate that nation’s policy makers may perform an interest rate cut.

Won Drops on Concern About Korea’s Recovery

The South Korea fell today as the nation’s central bank left interest rates unchanged and voiced concern about the strength of the currency that may hurt economic growth.

South Korean Won Falls on Intervention Concerns

The South Korean won weakened today on concerns that the nation’s central bank will intervene to rein the currency’s rally that may hurt the South Korean economy.

Won Rallies as BoK Speaks About Growth & China’s Data Still Good

The South Korean won advanced today as the central bank spoke about economic growth of the Asian nation and after China released yet another positive report.

South Korean Won Rises, Reverses Gains

The South Korean won rose today before falling later as exporters were converting their earnings to the local currency. Worsening manufacturing conditions prevented the won from rallying too much and led to eventual decline.

Intervention Concerns Push Won Lower

The South Korean won declined today on speculations that the weakness of the Japanese yen will prompt nation’s policy makers to intervene in an attempt to push the exchange rate lower.