S.Korea fin min says takes no artifical FX policy

Published 10/18/2010, 09:41 PM
Updated 10/18/2010, 09:44 PM

SEOUL, Oct 19 (Reuters) - South Korea does not manage its foreign exchange policy to artificially help exporters but rather makes adjustments to mitigate big swings caused by the market's "herd behaviour", Finance Minister Yoon Jeung-hyun said on Tuesday.

"(Foreign exchange rates) need to move, reflecting economic fundamentals and market demand and supply," he told lawmakers during an annual parliamentary audit. (Reporting by Cheon Jong-woo and Kim Yeon-hee; Editing by Ken Wills)

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