Asia's foreign exchange market "in 危機"

Asia's foreign exchange market "in 危機"

In May this year, the Japanese government intervened in the foreign exchange market by mobilizing about $62 billion to support the falling yen, but less than a month later, the yen has continued to fall to the point where it needs to be involved in large-scale markets again

Since last year, China has constantly intervened in the foreign exchange market to support the yuan, especially in offshore markets such as Hong Kong, believing that the yuan has fallen more sharply, disturbing the foreign exchange market

In particular, in China, the exchange rate is floating within the 2% band set by the government, not the free-floating exchange rate system, and since July last year, the exchange rate has been determined close to the band's lower limit, indicating that the Chinese government is also having considerable difficulty defending the exchange rate

At a time when the dollar is scarce and even key Asian players, such as Japan and China, are shaken to the core, it is virtually impossible for Korea or other Asian countries with far weaker "dollar-funding capabilities" to remain stable

The government should step up and bite its teeth with a 口 that there is nothing wrong with our foreign exchange market, which will have no effect
In order to survive in these harsh times of "各 self-painting," we will only have to prepare for other preparations

He claimed there was no problem with the 20 trillion won stolen from the "foreign exchange balance fund" he set up specifically to stabilize the exchange rate last year and used it for other purposes, but the wild fluctuations in the foreign exchange market this year make one sigh of relief