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According to the Finance and Economy Deputy Minister Cho Won-Dong the government in South Korea needs to deal with volatile movement for foreign exchange rates by the “smoothing operations.
He also said on the local KBS radio station interview, the position of the government in the smoothing operations in market trends has not been changed. He responds on the questions with what is the position of the government amidst the fall in Korea’s won against yen’s exchange rates is because of the rise in the dollar-yen exchange rates.
The cross rates between yen-won in the KRW7.5706 AT 0600 GMT when local-foreign exchange markets closed on Thursday. It has been the lowest level since October 16, 1997 quoted KRW7.5484.
15:15
Posted on Jun-16-2007
