Korea to take action against won's excessive volatility

A currency trader walks by screens showing the Korean Securities Dealers Automated Quotations (Kosdaq), center, and the foreign exchange rates at a foreign exchange dealing room in Seoul, June 8. The foreign exchange authorities said Monday they were closely monitoring the foreign exchange market as the Korean currency has shown excessive volatility. AP-Yonhap

The foreign exchange authorities said Monday they were closely monitoring the foreign exchange market as the Korean currency has shown excessive volatility.

The finance ministry and the central bank said they will make efforts to prevent the won from excessively moving in a one-sided direction.

The Korean currency was trading at 1,285.50 won per the U.S. dollar as of 1:50 p.m., down 16.6 won from the previous session. (Yonhap)