SEOUL, Nov. 14 (Xinhua) -- South Korea's Finance Minister Choi Sang-mok on Thursday issued a verbal intervention over excessive volatility in foreign exchange market.
Choi told an emergency meeting with economic policymakers that uncertainty remained over policy changes of the new U.S. administration as well as monetary policies in major economies and the global economy's growth and inflation.
Choi, also deputy prime minister for economic affairs, ordered relevant authorities to rapidly and actively implement market stabilization measures at the right time if volatility excessively becomes strong in financial and foreign exchange markets.
It marked the first verbal intervention by the authorities since April when won versus dollar exchange rate came closer to 1,400 won per dollar amid escalating geopolitical tensions in the Middle East.
Following Donald Trump's win in U.S. presidential elections earlier this month, the local currency fluctuated against the U.S. dollar, topping the so-called psychologically significant level of 1,400 won.
Won versus dollar exchange rate was traded at 1,405.10 won per dollar at 3:30 p.m. local time on Thursday. ■
