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Home > mk Business News 프린트 이메일 전송 리스트
IMF says S. Korean won underestimated 2-8 pct
By Lee Sang-deok
2013.08.04 12:31:42
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The International Monetary Fund estimated that the South Korean won is undervalued by two to eight percent (in real terms) considering the nation’s economic fundamentals.

[IMF says S. Korean won underestimated 2-8 pct] 기사의 본문 이미지


The IMF released the 2013 Pilot External Sector Report on Thursday that showed the currency values for the euro zone and 28 other countries and their foreign reserve holdings.

The IMF noted that based on the real and effective exchange rate which reflects currency’s overseas value and purchasing power, Korea’s won is undervalued two to eight percent taking into account of mid-term economic fundamentals. It also diagnosed the nation’s foreign reserve holdings which reached 180 percent of the nation’s short-term external debts are sufficient.

The IMF added it is reasonable to increase foreign currency reserves in proportion to the nation’s debt growth, but not necessary to accrue foreign currency reserves as the preventative measure for the possible currency crisis. Such analysis came from the judgment that there exist risks in inflow and outflow, but the nation has sound financial structures and it does not face excessive capital inflows. Regarding monetary policies, it also urged Korea to intervene in mitigating excessive volatility and left other issues in the hands of the market .

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