- September 18, 2022
- Posted by: Stratford Team
- Category: Economy
The won depreciating to 1,399 won against the dollar on Friday. [YONHAP]
The government is reportedly taking a more aggressive approach to stabilizing the volatile won-dollar exchange rate, which is now close to breaking 1,400 won against the greenback.
According to local news reports citing financial industry sources, the government has ordered commercial banks to report dollar transactions in real time.
The financial authorities reportedly called the banks directly to ask them to report dollar transactions, which is being interpreted as a warning to the market to refrain from excessive dollar purchases.
The government has not denied the reports.
The won’s value has been falling despite a warning…
