Bank of Korea governor says won unlikely to return to past levels, Yonhap reports

SEOUL : South Korea’s central bank governor said it was difficult for the dollar-won exchange rate to return to levels seen in the past, the Yonhap news agency reported on Tuesday.

It is difficult to say the dollar-won rate has stabilised and the market is in a wait-and-see mood, Bank of Korea Governor Rhee Chang-yong said in a meeting with lawmakers, according to the report.

The won was quoted at 1,427.8 per dollar as of 0520 GMT, compared with its previous close at 1,435.0 and a two-year low of 1,442.0 hit last week amid political turmoil.