Seoul: Seoul will closely monitor the foreign exchange (FX) market and take swift measures when necessary, Finance Minister Koo Yun-cheol said Friday, citing heightened global uncertainty.

According to Yonhap News Agency, volatility in the FX market continues to rise amid expanding global uncertainty stemming from U.S.-China trade tensions and fiscal and political risks in countries such as France and Japan. Koo made these remarks during a meeting attended by Bank of Korea Gov. Rhee Chang-yong and the heads of the Financial Services Commission and the Financial Supervisory Service.

The minister emphasized that the government will keep a close watch on external conditions, including the global financial market, around the clock and take prompt action if necessary. On Thursday, the South Korean won fell to its lowest level in about six months against the U.S. dollar, pressured by uncertainty over tariff negotiations with Washington. The local currency briefly rebounded Friday, trading at 1,437.2 won per dollar as of 9:30 a.m.