ID :
21834
Mon, 09/29/2008 - 11:04
Auther :
Shortlink :
http://m.oananews.org//node/21834
The shortlink copeid
S. Korea to take steps to stabilize currency market: official
SEOUL, Sept 29 (Yonhap) -- Growing volatility in the local currency market is "excessive" and South Korea will take necessary actions to stabilize it, a senior finance ministry official said Monday.
"The sharp volatility in the won-dollar exchange rate is determined to be
excessive and we will take necessary action to stabilize the local currency
market," Choi Jong-ku, the ministry's international financial division, told
reporters.
The verbal intervention comes as the won plunged by 23.25 won against the U.S.
dollar to trade at 1,183.75 won as of 10:13 a.m. The local currency has lost more
than 25 percent against the greenback since the start of this year.
kokobj@yna.co.kr
(END)
"The sharp volatility in the won-dollar exchange rate is determined to be
excessive and we will take necessary action to stabilize the local currency
market," Choi Jong-ku, the ministry's international financial division, told
reporters.
The verbal intervention comes as the won plunged by 23.25 won against the U.S.
dollar to trade at 1,183.75 won as of 10:13 a.m. The local currency has lost more
than 25 percent against the greenback since the start of this year.
kokobj@yna.co.kr
(END)
