South Korea says recent volatility in financial, FX markets excessive

Lallalit Srijandorn FXStreet

South Korea’s finance ministry, Choi Sang-mok, said on Tuesday that the recent volatility in the country's financial and foreign exchange markets is "excessive" given the nation's strong economic fundamentals.

"Although volatility in the financial and foreign exchange markets has increased, it appears somewhat excessive compared to the robust fundamentals and external stability of our economy,” said the finance minister.

South Korea's top economic policymaker further stated that he will respond with market stabilising measures.

Market reaction

At the time of writing, the USD/KRW pair is trading 0.12% higher on the day to trade at 1427.51.

Author

Lallalit Srijandorn

FXStreet

Lallalit Srijandorn is a Parisian at heart. She has lived in France since 2019 and now becomes a digital entrepreneur based in Paris and Bangkok.

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