At this point,the South Korean central bank stepped into the foreign
exchange market to try to keep the exchange rate above won 1,000=$1.It used dollars that it held in reserve to purchase won.The idea was to try to push up the price of the won in dollar terms and restore investor confidence in the stability of the exchange rate. This action,however, did not address the underlying debt problem faced by South Korean companies.Against a backdrop of more corporate bankruptcies in South Korea,and the government's stated intentions to take some troubled companies into state ownership,Standard & Poor's ,the U.S. credit rating agency , downgraded South Korea's sovereign debt. This cause the Korean stock market to plunge 5.5 percent ,and the Korean won to fall to won 930=$1.According to S&P,"The downgrade of...ratings reflects the escalating cost to the government of supporting the country's ailing corporate and financial sectors.
- ZarathustraLv 71 0 年前最佳解答
據標準普爾說： “調降 ...評等反映了(為了要)支持該國狀況不佳的公司和金融部門，逐步擴大的政府支出。參考資料： 我＋字典
- 凱凱Lv 41 0 年前