On July 31, according to reports, South Korea's foreign exchange authorities carried out a rare intervention operation to sell the US dollar on the 30th, pushing the exchange rate of the Korean won against the US dollar to its highest level in nine months. South Korea's move coincided with Japan's intervention to buy yen and sell dollars in the New York foreign exchange market, helping the yen break from its low position in the past 40 years. South Korea's Deputy Finance Minister said on the 31st that South Korea's foreign exchange administration is cooperating closely with its peers in major countries such as the United States and Japan, and will continue to maintain such collaboration. Earlier, Japanese and South Korean officials have publicly stated that they will maintain close communication on foreign exchange market dynamics to cope with pressure to depreciate the local currency.

On July 31, according to reports, South Korea's foreign exchange authorities carried out a rare intervention operation to sell the US dollar on the 30th, pushing the exchange rate of the Korean won against the US dollar to its highest level in nine months. South Korea's move coincided with Japan's intervention to buy yen and sell dollars in the New York foreign exchange market, helping the yen break from its low position in the past 40 years. South Korea's Deputy Finance Minister said on the 31st that South Korea's foreign exchange administration is cooperating closely with its peers in major countries such as the United States and Japan, and will continue to maintain such collaboration. Earlier, Japanese and South Korean officials have publicly stated that they will maintain close communication on foreign exchange market dynamics to cope with pressure to depreciate the local currency.