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S. Korea, IMF Discuss Ways of Disclosing Currency Market Intervention

Written: 2018-04-20 09:46:13Updated: 2018-04-20 14:07:38

S. Korea, IMF Discuss Ways of Disclosing Currency Market Intervention

Finance Minister Kim Dong-yeon and the chief of the International Monetary Fund(IMF) have discussed foreign exchange market-related issues, including ways to reveal records of Seoul's market interventions. 

The minister held the meeting with IMF Managing Director Christine Lagarde on Thursday on the sideline of the G20 finance ministers and central bank governors meeting in Washington. 

Kim told Lagarde that the Seoul government is working on a set of measures to boost the transparency of its currency market. 

Lagarde reportedly responded that revealing the records of currency market operations is helpful to macroeconomic stability. 

South Korea has been engaged in "smoothing operations" in the foreign exchange market to check extreme one-sided movements, but the IMF and U.S. have been demanding that it disclose such interventions to enhance the transparency of the foreign currency market.

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