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South Korea says to act against speculation in won market

Published on May 9, 2014 12:58 PM
 

SEOUL (Reuters) - South Korea's finance ministry said on Friday it will take decisive measures against speculative moves that cause one-sidedness in the won market, following recent gains by the won against the dollar.

The Ministry of Finance and Strategy also said it would step up its monitoring of speculative moves in foreign inflows, as well as offshore non-deliverable forwards won trade.

The won erased its earlier gains on Friday after the government warning, and was trading nearly flat at 1,022.7 against the dollar as of 0431 GMT.

The currency had been trading up 0.2 per cent prior to the remarks.

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