The Korean won is facing upward pressure on the exchange rate as foreign investors continue to pull funds out of the stock market. Authorities say they are closely monitoring the situation and stand ready to respond if needed.

The central bank noted that while it does not target a specific exchange rate level, the recent pace of currency depreciation has been rapid. It warned that action could be taken if market sentiment becomes overly one-sided or if the won diverges significantly from other currencies.

A key driver behind the weaker won is the continued outflow of foreign equity investment. Large and sustained capital outflows have created an imbalance in foreign exchange supply and demand, pushing the currency lower.

Analysts suggest that global investors are rebalancing their portfolios by reducing exposure to Korean assets, particularly after a period of increased holdings. This has amplified volatility in the currency market.

Despite the recent moves, officials emphasized that dollar liquidity remains stable, indicating that the current situation should not be interpreted as a financial crisis.

Previously, authorities intervened in the foreign exchange market by selling a significant amount of dollars to stabilize conditions amid severe imbalances and market concentration.

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