The exchange rate against the US dollar fell below the 1400 won.

The Global Times Comprehensive Report that the exchange rate of the Korean won continued to plummet, making South Korea smell the taste of the "economic crisis". As the US dollar has continued to strengthen in the near future, the exchange rate of the won of the US dollar has fallen below the 1,400 won. According to the "South Korea Economic" report, in the face of the recent rapid depreciation of the exchange rate of the Korean won, South Korean Deputy Prime Minister and Minister of Planning Qiu Qinghao said on the 25th that the recent situation of the exchange rate of the Korean won is different from the 1997 Asian financial crisis and the 2008 global financial crisis. Essence The last two economic crisis was that the exchange rate of the Korean won to the world's main currency plummeted, and now most of the major currencies in the world are depreciating. However, in view of the turmoil of the foreign exchange market, the South Korean government will mobilize state banks and some related funds to purchase futures foreign exchange in the future to supply US dollars.

Qiu Qinghao said that the government has prepared various measures to respond more than the recent depreciation of the Korean won than other currencies. South Korea currently has the world's ninth largest foreign exchange reserves and US $ 740 billion in net foreign financial assets, so it is not necessary to worry too much about foreign exchange shortage. In response to the controversy of using foreign exchange reserves, Qiu Qinghao believes that foreign exchange reserves are not to store in the safe, but to stabilize the market in this case. The South Korean government will use foreign exchange reserves to further stabilize the foreign exchange market.

It is reported that the South Korean government had previously hoped to sign a currency exchange agreement with the United States, but the US government has always been "deaf and dumb." Qiu Qinghao said: "South Korea has multiple policy tools to maintain the stability of the exchange rate of the Korean won, so when the foreign exchange liquidity is insufficient in the future, consider the problem of exchange with the United States."

The Yonhap News Agency said that the Ministry of Planning and Finance and the relevant departments of the foreign exchange market jointly held a meeting on the 25th to discuss how to deal with the fluctuations in the foreign exchange market. In order to solve the problem of foreign exchange funds of import and export enterprises, the South Korean government has begun to facilitate the sale of futures foreign exchange in the shipbuilding industry. Recently, Korean shipbuilding companies have increased due to the increase in orders, but the exchange rate fluctuations have caused the US dollar credit limit. The South Korean government intends to provide more than $ 8 billion in foreign exchange support for the shipbuilding industry by the end of this year through the end of this year. (Zhang Jing)

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