(Bloomberg) -- South Korea's won fell the most in
two months after Deputy Finance Minister Kim Sung Jin said the
government is ready to take action to stem gains that pushed the
currency to its highest since 1997.
The won gained the past six weeks, the longest stretch since
the start of 2006, as economic growth accelerated last quarter
and Moody's Investors Service raised the nation's credit rating.
Kim said yesterday the currency was ``overvalued'' and a
dwindling current-account surplus, the broadest measure of trade,
may reduce demand.
Read more at Bloomberg Currencies News
two months after Deputy Finance Minister Kim Sung Jin said the
government is ready to take action to stem gains that pushed the
currency to its highest since 1997.
The won gained the past six weeks, the longest stretch since
the start of 2006, as economic growth accelerated last quarter
and Moody's Investors Service raised the nation's credit rating.
Kim said yesterday the currency was ``overvalued'' and a
dwindling current-account surplus, the broadest measure of trade,
may reduce demand.
Read more at Bloomberg Currencies News
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