A senior official from the Bank of Korea stated on Tuesday that the central bank is closely monitoring the foreign exchange market and will take measures to ensure stability if significant herd behavior or one-sided trends emerge. Yoon Kyung-soo, head of the Bank of Korea's international department, made the remarks during a briefing.
Yoon noted that the South Korean won has been depreciating at a notably faster pace compared to other currencies. He attributed pressure on the won to foreign investors selling local stocks and concerns over the conflict involving Iran.
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