Economy / South Korea
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Record C/A Deficit Puts Further Weight On Won
September 2008 | Market StrategySorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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BMI View: The record current account deficit posted in August comes as further bad news for the South Korean won, which breached the important KRW1,200/US$ today and could conceivably drive it towards KRW1,325/US$. We believe the current account will post a surplus in Q408, but this prospect will have little influence on the fortunes of the won in the short term, which is being dominated by strong dollar repatriation to the US.