Governor Rhee Chang-yong told CNBC that external factors fueling the Korean won's weakness include the recent appreciation of the U.S. dollar.
The Bank of Korea will intervene to control currency volatility if needed, the central bank's chief told CNBC, describing the recent market fluctuations as a little"excessive.""I think the recent movement is a little bit excessive judging from what we could be justified by market fundamentals," he told CNBC's Karen Tso on the sidelines of the IMF Spring meetings in Washington on Tuesday.
Rhee said the central bank is ready to"deploy stabilizing measures" if the market volatility continues and has enough resources to do so.
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