Financial Times FT.com

South Korea intervenes to prop up Won

By Song Jung-a in Seoul and John Burton in Singapore

Published: March 3 2009 16:19 | Last updated: March 3 2009 16:19

The South Korean won on Tuesday rebounded from the weakest level in 11 years, helped by suspected intervention by the foreign exchange authorities.

The won has lost about 18 per cent of its value against the dollar this year to become the worst-performing major currency in Asia amid growing concerns about the country’s debt-financing ability.

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