Korean regulations to keep won stable

The first regulation, introduced on January 16, restricts onshore banks from increasing long positions through NDFs by more than 110% of their outstanding position as of Thursday January 15. On January 19, Mofe announced that short positions through NDFs could not drop below 90% of short positions held as of January 16. "In other words, short position holders cannot take purchase over 10% above their holdings of their positions," said an Mofe official.

"The dollar selling of offshore players