
Bank of Korea Governor Rhee Chang-yong said the weak won amounts to a crisis for inflation and inequality, though not a traditional financial crisis. He blamed imbalances in FX supply and demand, and urged the National Pension Service to consider the macroeconomic effects of its overseas investments.
The won was quoted at 1,479.8 per dollar at the time.
Persistent currency weakness raises import prices and inflation pressure in Korea, which raises the cost of imported feed. Official concern makes further stabilization measures more likely.
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