The South Korean won on Wednesday sank to its lowest level in four years despite suspected government intervention to prop up the currency, prompting growing talk about a possible currency crisis.

The won slumped for a fourth day, dropping 1.3 per cent to Won1,148.50 against the dollar. It has been Asia’s worst-performing currency this year, having plunged 19 per cent, as foreign investors sell out of the country amid accelerating inflation and slowing growth.