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The South Korean won strengthened significantly following comments from Bank of Korea Governor Rhee Chang-yong defending the central bank’s foreign exchange interventions. Governor Rhee emphasized that these measures aim to stabilize the currency’s decline and revealed ongoing discussions with US authorities regarding the won.
- Bank of Korea maintains current policy rate unchanged during latest meeting
- Governor Rhee confirms forex interventions target excessive won depreciation rather than aiming for specific levels
- Currency discussions with US government include matters related to the Korean won's performance
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