BOK’s Rhee Sees ‘Misaligned’ Won, Vows to Guard FX Stability

Bank of Korea Governor Rhee Chang Yong said the recent won weakness doesn’t reflect the real strength of the country’s economy, and he vowed to oppose any US investment decisions that could threaten the stability of the foreign-exchange market.

“While it is difficult to identify a precise appropriate exchange rate level, the recent rise into the upper 1,400s appears to be substantially misaligned with our economic fundamentals,” Rhee said in a New Year’s speech on Friday.