SEOUL, Jan 3 (Reuters) – South Korea will consider measures to boost capital outflows if the won continues to rise sharply, three people familiar with the matter said on Wednesday.
While smoothing operations to curb the won’s volatility will continue, the nation’s foreign exchange authorities may look into ways to spur investment abroad should the local currency consistently appreciate, the people said.
The won traded at a three-year high of 1,061.9 per dollar on Wednesday, having risen 13 percent in 2017, the biggest annual gain in 13 years.
The nation’s current account has been in surplus for 68 straight months through to October last year, data from the Bank of Korea shows. (Reporting by Cynthia Kim, Shin-hyung Lee; Editing by Sam Holmes)
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