South Korean Won Gains as Analysts Anticipate Intervention

  December 29th, 2011 at 10:34, Vladimir Vyun

3 Korean coins and 2 banknotesThe South Korean won gained today on speculation that the South Korean central bank will step in to support the nation’s currency that is depreciating amid concerns about global growth.

The South Korean currency was declining on falling demand for nation’s exports and uncertain prospects for economic growth. The death of the North Korean leader added to concerns as it may destabilize the political and, as a result, the economic situation in the region. The government said that, despite the problems, the country’s current account surplus may exceed $27.2 billion this year.

USD/KRW fell from 1,157.2999 to 1,152.6000 as of 10:34 GMT today.

If you have any questions, comments or opinions regarding the South Korean Won, feel free to post them using the commentary form below.

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