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Real Reality
Joined: 10 Jan 2003
Location: Seoul
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 Posted: Tue Mar 08, 2005 2:29 am Post subject: Government to Curb Won's Rise? |
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A senior official at the Ministry of Finance and Economy (MOFE) said Tuesday that the government plans to mobilize all possible measures to stop the Korean won from strengthening too fast under pressure from speculative forces. The government "has no other choice but to act" in the foreign currency market, said Chin Dong-soo, deputy minister for international affairs at the MOFE, in a seminar organized by Korea Chamber of Commerce & Industry Tuesday.
By Lee Hyo-sik, Korea Times (March 8, 2005)
http://times.hankooki.com/lpage/biz/200503/kt2005030818355911910.htm |
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Wangja
Joined: 17 May 2004
Location: Seoul, Yongsan
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| Posted: Tue Mar 08, 2005 3:04 am Post subject: |
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hmmm, so what do they plan? Sell the won? OK and buy what? THe USD - don't think so, they're already selling that. But the EUR?
That will further increase demand for the EUR and decrease demand for the USD - and although some may crow, an overly weak dollar is not in anybody's interests.
Not a nice problem they face, and one over which they have little control. |
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Paji eh Wong
Joined: 03 Jun 2003
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| Posted: Tue Mar 08, 2005 3:13 am Post subject: |
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| I think they've made this announcement every three months for the last year. |
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