March 24, 2020 / 10:51 PM / 15 days ago

S.Korea to temporarily loosen capital flow rules further to ensure dollar liquidity

SEOUL, March 25 (Reuters) - South Korea on Wednesday said it will further loosen key capital flow rules temporarily to encourage local financial institutions to supply more dollars as the coronavirus pandemic continues to send shock waves through global markets.

The government plans to temporarily relax FX liquidity coverage ratio for banks and exempt levy on foreign currency borrowing, finance minister Hong Nam-Ki said in a policy meeting, according to a written copy of his speech. (Reporting by Cynthia Kim; Editing by Sandra Maler)

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