2010年10月18日星期一

Japan prime minister urges South Korea to stop the intervention foreign exchange

Japanese Prime Minister Naoto Kan on October 13 urges South Korea to stop to the won exchange rate intervention act, and expressed that is becoming a Japan's important issue with South Korea in technical and the automobile industry's competition. The same day, Japan financial minister Yoshihiko Noda indicated that takes 20 country group conference's host who soon convenes, South Korea's foreign exchange intervention act will be made pays attention.

Naoto Kan on 13th indicated on the Diet that in many aspects, the competition is a Japanese and South Korean relations important topic. He said: “urges the domestic currency depreciation generally speaking is counteracts in the coordinated procedure, we hoped that South Korea takes person in charge's action to comply with the common rule.”Regarding Japanese government this statement, the South Korean business planning Ministry of Finance spokespeople indicated that the South Korean Government does not carry on the commentary to the exchange rate intervention question, but as the G20 conference host, South Korea is playing the very good role, South Korea can successfully holds the Seoul G20 summit.

Before this, the Japanese government involves the exchange rate market on September 15, through undersells the Japanese Yen, to buy up US dollar way to carry on the intervention to a Japanese Yen exchange rate. But Han business planning Ministry of Finance also once took a stand on 4th, recently the major country took the substantive measure one after another regarding the exchange rate question, this will certainly to cause the South Korean exchange rate market to fluctuate largely in the near future. But once this situation appears, the South Korean Government will involve the exchange rate market, the implementation stable exchange rate measure.

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