Bank of Korea to hold internal meeting to discuss FX market on Friday
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SEOUL, Dec 19 : The Bank of Korea will hold an internal meeting of the board members and senior officials to discuss foreign exchange rates on Friday, an official told Reuters.
The Bank of Korea said in a Wednesday report that headline inflation next year could exceed earlier forecasts if the won stays at its current level against the dollar. The won hit on Thursday its weakest level since April 9 at 1,482.1 per dollar.
On Thursday, South Korea's presidential policy adviser, Kim Yong-beom, had a meeting with officials of local exporters on the foreign exchange market, two officials also said.
At the meeting, Kim warned company officials that they should not seek to take "a small profit" from the weakness of the won, and that even a small amount of trade for foreign exchange could send shockwaves through the market amid thin trade at the end of the year, according to local media reports.
The Financial Supervisory Service also said on Friday it would take measures against business practices by financial firms encouraging overseas investment, such as suspending promotional events and requiring them to inform customers of the risks.
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