S. Korea determined to stabilize currency market: official

SEOUL, Oct. 2 (Yonhap) -- The won's recent decline is excessive and the South Korean government will make efforts to stabilize the foreign exchange currency market, a senior finance ministry official said Thursday.

"We are determined to stabilize the foreign exchange market," Vice Finance
Minister Kim Dong-soo told reporters before a meeting, saying that the recent
volatility of the won-dollar exchange rate is excessive.
The won recently underwent a sharp slide against the U.S. dollar amid growing
concerns over global financial instability emanating from the United States. On
Tuesday, the won tumbled to a 64-month low against the U.S. dollar, making it one
of the biggest decliners among Asia's currencies.
Kim said that the government's top priority remains keeping inflation under
control. The comment comes after consumer prices grew 5.1 percent in September,
declining for two months in a row after hitting a 10-year high in July.