The Korea Times
Finance Minister Koo Yun-cheol said Friday that the Korean won has been stabilizing against the U.S. dollar following its depreciation amid the ongoing U.S.-Israeli war against Iran, expressing hopes that it will align with market expectations. Koo made the remarks during a meeting with Korean reporters in Washington, as the Korean currency strengthened to the 1,460 won range against the greenback after Iran's reopening of the crucial Strait of Hormuz, amid expectations that the United States and Iran will reach a deal to end the war. "As the (won-dollar) exchange rate has been stabilizing in the 1,460 won-per-dollar range, I think we can discuss that matter if need be," Koo said, responding to a question about whether he plans to discuss the issue during a meeting with U.S. Treasury Secretary Scott Bessent set for Friday afternoon. The minister voiced hopes that the Korean won will appreciate against the dollar in line with market expectations. "It is something to be determined by the market, but considering Korea's economic fundamentals, there might be expectations in the market," he s
Go to News Site