South Korea central bank official says no reason for won to track China's yuan

[SEOUL] A foreign exchange official at South Korea's central bank told Reuters on Thursday the won has been affected by the Chinese yuan's weakening, but said it has no reason to do so given differences in each country's markets and economies.

"(The won) has recently been influenced by the yuan's movement amid concerns about the US-China trade conflicts, but there is no reason for the won to follow the yuan's movements," the official said by telephone on condition of anonymity.

The comment came after officials at the Bank of Korea and the finance ministry recently warned they would act if necessary to curb the won's rapid decline.

REUTERS