South Korea warns against excessive devaluation of the won

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      South Korea warned the market Monday not to bet one-way on the won. Earlier, the won fell sharply in early trading as investors grew more worried about the global economic situation.
"The basic position of the government is that if there is herding in the currency market, it will take pre-emptive action," said Kim Yong-beom, deputy director of the Ministry of Planning and Finance of South Korea.
He also said that the authorities are paying close attention to the trend of the RMB CNY = as the linkage between the trend of the Korean won and the RMB increases.


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