Korea relaxes won NDF rules
Choi Jong-ku, head of the Finance Ministry's international finance bureau, has revealed plans to scrap rules preventing dollar buying by local banks in the offshore NDF market. The move is part of a series of government interventions to help strengthen the won in a bid to fight inflation.
"They are sending the message that they don't mind KRW appreciation - in line with their aggressive intervention in the FX market - as they are using currency appreciation to fight imported inflation," said
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