Strong Won Expected in Short Term: Foreign Firms.

From: Korea Times (Seoul, Korea) | Date: June 7, 2000 | Copyright information

Overseas financial institutions are upwardly revising their short-term estimates of the won-dollar exchange rate.

According to a financial source here, Salomon Smith Barney, a U.S.-based investment company, forecast that the dollar would trade at 1,150 won and 1,125 won in June and August, respectively.

This upward estimate was due to lingering concerns over the higher debt ratio of chaebol, two ailing investment and trust companies and possibly higher demand for the dollar caused by capital flight, the company noted.

The firm, however, kept its medium-term ...

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