SOUTH KOREA
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<i> Times Staff and Wire Reports</i>
Control on Foreign Exchange Rate to Be Eased: The Ministry of Finance and Economy said in a report that the government-set ceiling on daily fluctuations of the U.S. dollar exchange rate against the won will widen to 2.25% of the day’s central rate from Dec. 1. The current limit restricts movements to within 1.5% of the rate. The change will let market forces have more influence in determining the exchange rate, the ministry said. The government plans to convert to a freely floating exchange rate system by 1997.
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