Tension In Foreign Exchange Market Remain High

On March 10, the Seoul Foreign Exchange Market was in a mood of high tension. On that day, the won-dollar rate dropped to 989 won at one point, skyrocketed to 1,008 won in a roller coaster ride at another, and closed at 1,000.3 won due to strong intervention by the foreign exchange authorities. Foreign exchange dealers of Citibank Korea are hurriedly consulting one another, looking at the foreign exchange rate.

Young-Dae Park sannae@donga.com