Financial Supervisory Service Calls Banks Due to Surging Exchange Rate...foreign exchange risk check

As the foreign exchange market fluctuates due to the so-called Trump shock, financial authorities call in bank funding executives to check the risks in the foreign exchange sector.

On the 20th, the Financial Supervisory Service plans to convene executives in charge of foreign exchange and funds from 10 domestic branches of domestic commercial banks and foreign banks to hold a meeting to check the foreign currency liquidity situation.

The Financial Supervisory Service will listen to the outlook on the foreign exchange market and discuss the impact of rising exchange rates on the foreign exchange sector and countermeasures.

It is also expected to evaluate the foreign currency liquidity situation by bank and discuss management plans.

Apart from the current instability in the foreign exchange market, the FSS evaluates that the refinance is smooth and dollar liquidity is also good, but higher exchange rate levels could be a source of instability in the money market, strengthening monitoring.

Financial authorities are strengthening their response to abnormal transactions in relation to increased volatility in the virtual asset market as well as the foreign exchange market.