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Home > mk Business News 프린트 이메일 전송 리스트
Gov’t considers lowering ceilings on currency forward positions
2012.11.22 17:55:20 | 2012.11.22 17:56:17

[Gov’t considers lowering ceilings on currency forward positions] 기사의 본문 이미지

As the South Korean won shows signs of surpassing the 1,080 won level against the dollar, the government has made verbal intervention in the local foreign exchange market. In line with this move, the government will announce measures to strengthen macroeconomic soundness including lowering the ceiling on foreign currency forward positions within next week.

“Capital flows are excessively volatile in the domestic foreign exchange market.” noted Choi, Jong-ku, Deputy Minister for International Affairs, the Ministry of Strategy and Finance (MOSF) at a briefing Tuesday. “When the volatility becomes higher, we will do our part to curb the excessive strengthening of the won.

The government said it will release measures to strengthen macroeconomic soundness, which are designed to ease capital flow volatility such as lowering the caps on currency forward trades as early as next week.

The government is reported to consider lowering the ceiling on currency forwards held by local branches of foreign banks from 200 percent to 150 percent of their equity capital and local banks’ from 40 percent to 30 percent.

Such government’s efforts to tame the appreciation of the won against the dollar came against the backdrop that the curve is steeper than those of neighboring countries’ currencies. “This year’s lowest point was 1,185.50 won against the dollar set on May 25, but as of now, the parity rate plunged 10 percent from that point and more worryingly, a five percent drop has been made just over last three months,” Choi expressed worries.

The won-dollar exchange rate rose 2.7 won from the previous day to end at 1,085.9 won in Seoul on November 22th.

[Written by Sang-duk Lee - Jieun Lee / edited by Soyoung Chung]

[ⓒ Maeil Business Newspaper &, All rights reserved]

Korean View
정부 "원화값 강세 지나쳐"…외환시장 출렁
"선물환 포지션 축소 내주 결정"
원화값 2.7원 내린 1085원 마감

달러당 원화값이 1080원대를 돌파할 조짐을 보이자 정부가 외환시장에 구두개입을 단행했다. 이에 따라 강세를 보이던 원화값이 약세로 급반전하는 등 외환시장이 크게 출렁거렸다.

최종구 기획재정부 국제경제관리관(차관보)은 22일 오전 10시께 긴급브리핑을 열어 "최근 외환시장 움직임이 과하다"면서 "정부는 일방적인 쏠림현상이 심화되면 주어진 역할을 수행할 준비가 돼 있다"고 말했다.

이는 전날 박재완 기획재정부 장관이 "필요하다면 적절한 조치를 취하겠다"고 말한 것보다 시장에 대한 강도 높은 경고인 셈이다.

또 공식적으..

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