AIRLINK 188.53 Decreased By ▼ -8.12 (-4.13%)
BOP 9.98 Decreased By ▼ -0.16 (-1.58%)
CNERGY 6.46 Decreased By ▼ -0.23 (-3.44%)
FCCL 33.55 Increased By ▲ 0.53 (1.61%)
FFL 16.50 Decreased By ▼ -0.15 (-0.9%)
FLYNG 23.75 Increased By ▲ 1.30 (5.79%)
HUBC 125.38 Decreased By ▼ -1.91 (-1.5%)
HUMNL 13.76 Decreased By ▼ -0.14 (-1.01%)
KEL 4.75 Decreased By ▼ -0.01 (-0.21%)
KOSM 6.49 Increased By ▲ 0.12 (1.88%)
MLCF 42.88 Increased By ▲ 0.66 (1.56%)
OGDC 210.95 Decreased By ▼ -2.08 (-0.98%)
PACE 7.31 Increased By ▲ 0.30 (4.28%)
PAEL 40.97 Increased By ▲ 0.10 (0.24%)
PIAHCLA 17.30 Increased By ▲ 0.48 (2.85%)
PIBTL 8.35 Increased By ▲ 0.06 (0.72%)
POWER 8.92 Increased By ▲ 0.10 (1.13%)
PPL 183.50 Decreased By ▼ -0.07 (-0.04%)
PRL 36.61 Decreased By ▼ -1.66 (-4.34%)
PTC 23.83 Decreased By ▼ -0.24 (-1%)
SEARL 93.40 Decreased By ▼ -1.71 (-1.8%)
SILK 0.98 Decreased By ▼ -0.02 (-2%)
SSGC 39.60 Decreased By ▼ -0.71 (-1.76%)
SYM 17.75 Decreased By ▼ -0.46 (-2.53%)
TELE 8.58 Decreased By ▼ -0.15 (-1.72%)
TPLP 12.33 Increased By ▲ 0.12 (0.98%)
TRG 62.50 Decreased By ▼ -1.86 (-2.89%)
WAVESAPP 10.25 Decreased By ▼ -0.19 (-1.82%)
WTL 1.77 Decreased By ▼ -0.02 (-1.12%)
YOUW 3.99 Decreased By ▼ -0.01 (-0.25%)
BR100 11,655 Decreased By -68.1 (-0.58%)
BR30 35,097 Decreased By -262.4 (-0.74%)
KSE100 112,161 Decreased By -477.2 (-0.42%)
KSE30 35,247 Decreased By -210.9 (-0.59%)

A senior official at investment management firm PIMCO said on Wednesday the South Korean won would remain under pressure for some time and that the country's central bank would likely cut interest rates further. "I would be very surprised to see the Korean currency keep on strengthening over the next 12 to 18 months," Luke Spajic, head of PIMCO's emerging markets Asia portfolio management, said in response to a question at a conference in Seoul.
He said the won's weakness would be due mainly to an anticipated strength in the US dollar for the coming months on the back of the US economy's solid performance coupled with policy easing in Japan and Europe. South Korea's central bank cut the policy interest rate three times since May last year, including a cut in October, by a total of 75 basis points to 2.0 percent that matches a record low.

Copyright Reuters, 2014

Comments

Comments are closed.