SEOUL (XINHUA) – As a major side effect of the ongoing political crisis in South Korea, the local currency gave its worst performance last week compared to other major currencies against the United States dollar, Yonhap said yesterday citing available data.
The Korean won dropped 1.86 per cent against the greenback on Friday from a week earlier, the worst performer among major currencies, according to the Yonhap report.
South Korea’s Finance Minister Choi Sang-mok vowed yesterday to take “pre-emptive” action in collaboration with the country’s central bank to respond to foreign exchange volatilities.
Choi made the remarks as he called on the National Assembly to finalise the budget bill for the coming year, one of the major friction points between South Korean President Yoon Suk-yeol and the opposition-controlled legislature in the lead-up to the emergency martial law declaration by the president.
PHOTO: AP
