March 20, 2020 / 7:31 AM / 12 days ago

S.Korea says tapping FX reserves to help distressed firms may be next step

SEOUL, March 20 (Reuters) - South Korea’s finance minister said on Friday that helping distressed companies secure more dollars using foreign exchange reserves or an FX stabilisation fund could be the government’s next step to address funding stress from the coronavirus pandemic.

Speaking to foreign media, Hong Nam-ki said the government has various measures ready to stabilise currency markets outside the new currency swap being signed between the Bank of Korea and the U.S. Federal Reserve. (Reporting by Cynthia Kim; Editing by Jacqueline Wong)

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