WASHINGTON, April 14 (Reuters) - Bank of Korea Governor
Chang Yong Rhee said on Friday last year's currency intervention
served as a "stabilizer" to rein in the won's sharp depreciation
against the dollar, rather than a replacement of sound economic
management.
In September and October last year, South Korean authorities
had to rely on currency intervention because the won fell much
more than expected on aggressive U.S. interest rate hikes, Rhee
told an IMF seminar.
"By slowing down currency depreciation, we could give room
for investors to adjust to the new reality," he said.
(Reporting by Leika Kihara; Editing by Chizu Nomiyama)
Messaging: leika.kihara.reuters.com@reuters.net))
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