March 15, 2020 / 11:57 PM / 25 days ago

S.Korea to take market stabilising measures, supply liquidity if needed amid virus woes

SEOUL, March 16 (Reuters) - South Korea’s finance ministry on Monday pledged to take swift and stern stabilisation measures to prevent herd-like behaviour in currency market, and to supply liquidity if needed as the economy comes under pressure due to the coronavirus outbreak.

“As market instability can cause credit crunch and add strains to the economy, depending on future market conditions the government and the related authorities will quickly deploy additional market stabilising measures if needed,” the Vice Finance Minister Kim Yong-beom said in a scheduled meeting held with related authorities.

Although there has been a temporary increase in the volatility of the currency swap market, the country’s FX liquidity is currently in good condition, Kim added. (Reporting by Joori Roh; Editing by Himani Sarkar)

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