Bank of Korea board member says dollar liquidity not worrying, media reports
7:10 pm Monday, October 28th, 2024
SEOUL (Reuters) – A voting board member at South Korea’s central bank said she is not concerned about dollar liquidity conditions in the dollar-won market, Yonhap news agency reported on Tuesday.
“It isn’t appropriate to assess the level but as for forex liquidity conditions, I’m not so worried,” Lee Soo-hyung told reporters in Washington DC on Oct. 24, according to Yonhap.
The won has weakened nearly 8% against the dollar this year. It last touched the psychological threshold of 1,400 in mid-April.
Lee said she was also “surprised” by South Korea’s weaker-than-expected third quarter economic growth, but explained there could be temporary factors behind the figures.
South Korea’s economy barely grew in the third quarter as consumer spending showed signs of recovery but exports declined, raising the chances for more stimulus to support growth.
(Reporting by Cynthia Kim; Editing by Sam Holmes)
