March 19, 2018 / 1:02 AM / 4 months ago

South Korea considers disclosing FX smoothing operation details

SEOUL (Reuters) - South Korea may disclose details of actions taken by currency authorities to smooth foreign exchange market volatilities, two government officials told Reuters on Monday.

South Korean won, Chinese yuan and Japanese yen notes are seen on U.S. 100 dollar notes in this file photo illustration shot December 15, 2015. REUTERS/Kim Hong-Ji//Illustration/File Photo

“The International Monetary Fund has been advising to improve transparency of the government’s actions in forex markets, and it is true that we are reviewing ways to achieve it,” said one official in charge of currency policies.

The government will decide whether or not to disclose the details by April, when the semi-annual U.S. Treasury currency report is due.

Another official said plans to disclose details of currency market intervention are “under review.”

South Korea, along with China, avoided the currency-manipulator label in the U.S. Treasury currency report, but was kept on a currency “monitoring list”.

Reporting by Shinhyung Lee, Dahee Kim, Cynthia Kim; Editing by Sam Holmes

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