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WorldPosted at: Nov 16 2017 12:26PM


SKorea official says won's rise is excessive, being closely monitored

SEOUL, Nov 16 (Reuters) South Korea's finance ministry official in charge of currency markets on Thursday said the won's gain against the dollar has been excessive, and he is monitoring it closely.
"The pace of gaining is excessive, and we're closely monitoring (the markets)," said Kim Yoon-kyung, director general of the International Finance Bureau at the finance ministry.
Separately, South Korea's central bank was suspected of buying dollars in the afternoon to stem the won's gain as it neared the level of 1,100 per dollar, according to multiple traders.
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