The South Korean won gained today as the nation’s central bank maintained its main interest rate to rein inflation and support country’s economic growth.
The Bank of Korea left its key interest rate at 3.25 percent. Such decision was expected by market analysts. BoK Governor Kim Choong Soo explained after the policy meeting, which was held today in Seoul, that policy makers want to slow inflation to 3 percent in the medium term from 4.2 percent in December. Global funds boosted their purchases of Korean bonds to $476 million this month.
USD/KRW fell from 1,151.7999 to 1,148.7000 as of 16:30 GMT today.
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