CURRENCY NEWS
CURRENCY NEWS
South Korea continues liberalisation of won
South Korea has undertaken a second phase of liberalisation of its FX policy, following the easing of trading restrictions in April 1999.
South Korean companies that do not export were previously restricted to holding $5 million dollars or equivalent, and exporting companies were restricted to $500 million or equivalent in overseas deposits.
The South Korean authorities will monitor all transfers of cash from the country through the National Tax and
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