ID :
22342
Thu, 10/02/2008 - 14:16
Auther :
Shortlink :
http://m.oananews.org//node/22342
The shortlink copeid
Use of foreign reserves to stabilize currency is appropriate: finance minister
SEOUL, Oct. 2 (Yonhap) -- It is appropriate to use foreign reserves to stabilize the currency market amid growing concerns over global financial instability, Finance Minister Kang Man-soo said Thursday.
The government will also provide more liquidity to the market to ease jitters
over a foreign capital shortage, Kang told a meeting with high-ranking officials
to discuss economic measures.
On Thursday, South Korea's currency tumbled to a 65-month low against the U.S.
dollar. Kang's comments come as local companies and banks are having difficulty
securing foreign capital amid tightening credit conditions.
The government will also provide more liquidity to the market to ease jitters
over a foreign capital shortage, Kang told a meeting with high-ranking officials
to discuss economic measures.
On Thursday, South Korea's currency tumbled to a 65-month low against the U.S.
dollar. Kang's comments come as local companies and banks are having difficulty
securing foreign capital amid tightening credit conditions.
