South Korea to reduce ceiling on currency forward positions

11/25/2012 | (South Korea)

South Korea plans to lower the ceiling on foreign currency forward positions, perhaps in the coming week, as the nation's currency nears the 1,080 won level against the U.S. dollar. "Capital flows are excessively volatile in the domestic foreign exchange market. When the volatility becomes higher, we will do our part to curb the excessive strengthening of the won," said Choi Jong-ku, deputy minister for international affairs with the Ministry of Strategy and Finance.

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