(AOF) – The Korean Central Bank (BoK) today raised its main policy rate by 25 basis points to 1%. The institution thus takes note of the economic recovery underway, fueled in particular by the strength of exports, and the rise in inflation. According to Commerzbank, further rounds of the monetary screw may be on the table in the future. The South Korean currency hardly benefits. By late afternoon, the dollar rose 0.14% to 1,190.52 won to the dollar.
The won is penalized by concerns over slower growth in China, which is South Korea’s main trading partner.
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