South Korea is closely monitoring the won-yen exchange rate that financial authorities say has reached a worrisome range and is encouraging exporters to take some hedging measures, officials said Sunday.
"The low-yen trend has entered its third year, but it is showing signs of accelerating recently," an official staying close to exchange issues said. "Any lopsidedness in exchange rates can negatively impact the local economy. We are watching the situation very closely."
The Korean won traded at 958.43 per 100 Japanese yen as of 5:50 p.m. Friday compared to 971.68 on Sept. 1. It rose from 1,017.48 won reached on Aug. 8.