The South Korean won fell today and remained weak even after the nation’s central bank maintained its key interest rate, frustrating analysts who predicted an interest rate cut.
The Bank of Korea left its main rate at 3 percent. The BoK has cut the lending rate by 25 basis points in July and the majority of analysts believed that the bank would perform the same move this month. The central bank disappointed forecasters, refraining from a rate cut even though the outlook was dovish.
USD/KRW was up from 1,126.8250 to 1129.3500 as of 14:19 GMT today
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