https://www.hankyung.com/opinion/article/202003178416i
Input 2020.03.1718: 17 Correction 2020.03.1800: 17
0VisibilityCanForeignExchangeHoldingsBeRelieved?
'시계 제로' 세계 경제… 외환 보유액 마음 놓을 수 있나
2020 global economic crisis ?
Two signs of an economic crisis we can learn ?
Director Lee Jung Woo | 2019/12/18
Subtitles-Settings-Subtitles ( 1 )-Automatic translation-Language
Wuhan Pneumonia virus (Corona 19)
The economic shock caused by this has spread widely in finance and industries.
Countries have entered a 'money settlement war' at very low interest rates
However, stock prices have been declining and international oil prices have plummeted.
Consumption is generally shrinking, and the real economy is going to deteriorate.
Demand and supply are impacted simultaneously
Many experts say that a 'new form of depression' is in progress.
Following the United States, the European Union (EU) is surprised by the rapidly increasing patient tendency
It is likely that the anxiety and fear psychology will be weighted because they are moving to cut off the border.
In this crisis situation, the two pillars of the national economy are finance and foreign exchange.
Healthy finances even when not in a crisis
That is why the importance of rich foreign exchange holdings was repeatedly emphasized.
In particular, Korea faced the 1997 foreign exchange crisis and the 2008 global financial crisis.
We experienced and felt the importance of 'forex warehouse' in our bones(to the bone all the way through).
Is Japan's foreign exchange holdings enough now to prepare for a crisis?
With a total of $ 409.97 billion ( end of February ) , the absolute scale is more than usual.
However, exports have recently declined sharply, and the external current account is worsening.
Prospects are that the surplus will decrease significantly and the monthly publication will be in the red in the near future.
In the financial sphere and businesses, you can see signs of 'dollar sunshine'
Won dollar ( US ) exchange rate soared by nearly 50 won for a week
It has risen to around 1240 won per dollar.
The possibility of the withdrawal of foreign investors who sell Korean stocks in large numbers is also a cause of concern in the foreign exchange market.