(Bloomberg) -- South Korea's won had the worst week since August after the government and central bank said they will take action to stem gains in the currency if needed.
The won has slumped more than 1 percent since Ahn Byung Chan, the Bank of Korea's top currency official, said May 16 the won is ``highly overvalued.'' The Japanese yen has weakened this quarter while the won strengthened, pushing up the price of Korean exports relative to those of its Asian neighbor. Shipments account for about 40 percent of Korea's economy.
Read more at Bloomberg Currencies News
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