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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: yard_man who wrote (4304)	1/2/2004 9:09:27 PM
From: ild	Read Replies (2) of 110194

Jan. 3 (Bloomberg) -- The South Korean won fell after the finance ministry said it plans to raise 2.9 trillion won ($2.4 billion) that it can use to sell in the currency market. The country's central bank may try to weaken its currency as a means of sustaining export growth by making Korean goods cheaper for overseas buyers, said traders including Roh Sang Chil. South Korean shipments abroad rose in December at the fastest pace in more than 3 1/2 years. South Korea's currency yesterday weakened 0.2 percent to 1,195.05 against the dollar, according to Seoul Money Brokerage Services Ltd. ``Concern about central bank intervention'' to sell won may keep the currency weaker than 1,190 per dollar, said Chil, a currency trader at Kookmin Bank, South Korea's biggest lender. The government may sell as much as 44.1 trillion won in 2004 to stabilize the currency, the ministry said on Wednesday. quote.bloomberg.com

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