Bank of Korea (BOK) Governor Rhee Chang-yong said Tuesday that the Korean won is unlikely to return to past levels "for some time" amid the political crisis.
"It would be difficult to return to the levels seen in the past for some time," Rhee told lawmakers during a parliamentary strategy and finance committee meeting. "It is hard to say that the foreign exchange market has been stabilized, and investors are taking a wait-and-see posture," Rhee added.
The remarks come amid the country's most recent political crisis, triggered after the President imposed martial law last week. Amid the turmoil, the country's financial authorities vowed to mobilize all available resources to ease the economic and foreign exchange markets.
