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2025-10-30 08:58:27
[South Korea Says Foreign Exchange Market Shows Signs of Stabilization Following Trade Agreement] The South Korean government said in a statement on Thursday that the South Korean foreign exchange market has shown some signs of stabilization following the US-South Korea trade agreement, but volatility remains high. Officials from the Bank of Korea, the Financial Supervisory Service, the Financial Services Commission, and the Ministry of Finance held a meeting to discuss the impact of the Federal Reserve's interest rate cut and its planned end to quantitative tightening. The joint statement said, "The South Korean domestic stock and bond markets are showing a stable trend." The statement added, "South Korea will continue to closely monitor the foreign exchange and financial markets," noting that external uncertainties include trade tensions and the prolonged US government shutdown. In a separate statement, the Bank of Korea said that although the Fed's interest rate cut was in line with market expectations, the future path of the Fed's interest rates remains highly uncertain. The Bank of Korea stated in a press release, "While the US-South Korea trade agreement is beneficial to the domestic financial and foreign exchange markets, we will closely monitor market conditions considering external uncertainties such as other trade agreements and the fiscal situations of major countries."
