Asia Unhedged | Korea prepares for possible currency manipulator label
Lee Ju-yeol, South Korea's central bank governor. Photo: Reuters, Kim Hong-Ji
Lee Ju-yeol, South Korea's central bank governor. Photo: Reuters, Kim Hong-Ji
Asia UnhedgedReal-time intel on what moves markets

Korea prepares for possible currency manipulator label

Central bank comments came ahead of US Treasury foreign exchange report next month

March 24, 2017 2:01 AM (UTC+8)

South Korea’s central bank governor is raising the need for preemptive efforts to ensure that Seoul isn’t designated a “currency manipulator” when the US Treasury issues its foreign exchange report next month, reports Joongang Daily.

Governor Lee Ju-yeol said that despite what he cited as a low likelihood of being labeled a currency manipulator, the possibility cannot be ruled out.

The cautious stance comes after Korea was put on a monitoring list by the US Treasury last year, and as the Trump administration has made a priority out of lessening trade surpluses with trading partners.

Comments