South Korea Vows to Fight Volatility After Won Hits Three-Month Low
- Finance minister vows to ‘respond promptly’ to market weakness
- Korean won slumped over 5% in October, hitting three-month low
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South Korea’s finance minister has promised to act swiftly to curb excessive volatility in the won, the latest sign officials are growing nervous about the currency after it fell to a three-month low.
Korean authorities “will respond promptly according to contingency plans” in the event of excessive volatility in either the currency or the country’s broader financial markets, Finance Minister Choi Sang-mok said Monday.