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작성일 : 10-10-20 09:30
S.Korea Has No Artificial FX Policies
 글쓴이 : chungwoo
조회 : 1,708  
Finance Minister Yoon Jeung-hyun says the government does not have any foreign exchange policies that artificially keep the country's currency relatively low.

During a parliamentary audit on Tuesday, the minister said the nation’s foreign exchange rates are determined by economic fundamentals and basic supply and demand principles.

Yoon, however, added that the government does implement so-called “smoothing operations” that reduce sudden fluctuations in exchange rates that negatively impact the local economy.

The minister said the currency issue will be dealt with as part of the framework for strong, sustainable and balanced growth when G20 finance ministers and central bank governors meet in Gyeongju, South Gyeongsang Province, on Friday and Saturday.

Yoon said that as chair of the upcoming G20 global economic summit, Seoul will try to mediate a compromise on the foreign exchange standoff between multiple countries, adding that there are alternatives that can be used to mitigate the situation.