Surging South Korean Won Sparks Alarm as Risk to Exports
- Finance ministry official says recent currency moves excessive
- Won’s gains to 1,100 per dollar seen curbing competitiveness
This article is for subscribers only.
The South Korean won’s rally faces resistance as it tests 1,100 versus the dollar, a level that some economists see as a red line for the nation’s export competitiveness.
Warnings from authorities are becoming forceful as the won quickly approaches this level. It retreated from around 1,105 on Monday after a finance ministry official described recent currency moves as excessive and said that authorities would take aggressive action to curb unwarranted volatility.