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Foreign exchange market developments and intervention in Korea

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  • Foreign exchange market developments and intervention in Korea
  • Ryoo, Sangdai; Kwon, Taeyong; Lee, Hyejin
  • Bank for International Settlements


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Title Foreign exchange market developments and intervention in Korea
Similar Titles
Material Type Articles
Author(English)

Ryoo, Sangdai; Kwon, Taeyong; Lee, Hyejin

Publisher

[Basel]:Bank for International Settlements

Date 2015
Journal Title; Vol./Issue BIS Papers:no. 73
Pages 9
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Original Format pdf
Subject Economy < Economic System
Holding Bank for International Settlements

Abstract

This paper provides an overview of the developments in the Korean foreign exchange market and the Bank of Korea's foreign exchange interventions since the introduction of the floating exchange rate regime in Korea. It deals with institutional aspects such as the objectives, instruments employed, tactics and strategies of the interventions, as well as the sterilisation practices. It also explains why the Korean won has been so volatile during the crisis period, and how the Korean authorities have addressed the vulnerability of the won via interventions and other macro prudential regulations.