Skip to main content Accessibility help

We use cookies to distinguish you from other users and to provide you with a better experience on our websites. Close this message to accept cookies or find out how to manage your cookie settings.

Close cookie message
×
  1. Home
  2. Search

Refine search

Refine search

Access:
Content type:
Publication date:
Apply   From and To filters
Subject: Show more
Journals Show more
Publishers: Show more
Societies Show more
Series: Show more
Collections: Show more

Actions for selected content:

Select all | Deselect all
  • View selected items
  • Export citations
  • Download PDF (zip)
  • Save to Kindle
  • Save to Dropbox
  • Save to Google Drive

Save Search

You can save your searches here and later view and run them again in "My saved searches".

Please provide a title, maximum of 40 characters.
Cancel
×

1 results

  • 9 - Foreign Exchange Market Intervention and Monetary Policy

  • from Part III - How Is Monetary Policy Conducted in Korea?
  • Woosik Moon, Seoul National University
  • Book:
    Monetary Policy and Central Banking in Korea
    Published online:
    17 February 2022
    Print publication:
    24 February 2022, pp 211-232

  • Summary

    There are three key questions with regard to the exchange rate policy in Korea: (1) the determination of the appropriate level of the exchange rate; (2) the reduction of exchange-rate volatility; and (3) the connection between the interest rate and the exchange rate. Until very recently, the Korean exchange authorities put a primary emphasis on keeping the exchange rate of the Korean won at an appropriate level. Along with the liberalisation of capital flows, the priority shifted over time towards reducing excessive fluctuations of the exchange rates. Furthermore, as interest rate changes increasingly have a stronger impact on capital movement, monetary policy has also become inseparable from exchange rate policy. This chapter examines the direct and indirect foreign exchange rate policies of the Korean government and the Bank of Korea.