Svmuu News: South Korea’s Deputy Finance Minister said Thursday that South Korea is maintaining close communication with Japan and other major allies on foreign exchange issues, and warned that the won’s exchange rate has deviated significantly from economic fundamentals.
“We have consistently maintained close cooperation and exchanged information with Japan and other relevant countries,” he said when asked whether South Korea would coordinate exchange rate stabilization policies with Japan. “Currently, the won’s exchange rate is out of line with economic fundamentals.” ” When asked about any potential intervention measures, he declined to elaborate further but noted that the government is prepared to take stabilizing measures should market liquidity shortages lead to excessive exchange rate volatility. (Jin Shi)