South Korea's Central Bank Launches Audit of Major FX Banks on Wednesday Over Won Stability Concerns

According to official statements, South Korea's central bank and Financial Supervisory Service will conduct on-site and off-site audits of major foreign exchange banks on Wednesday to determine whether they engaged in trading practices that could destabilize the won. Authorities will investigate whether market participants manipulated or fixed exchange rates for improper gain. The Korean won has faced pressure recently, reaching its lowest level since 2009 last week.
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