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South Korea bought nearly US$1b to curb won rise - dealers
Thursday, 22 November, 2012, 2:43pm
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Huangpu is a district of pigeon fanciers and the skies over Shanghai have seen birds racing back to their coops for the best part of a century. Words and pictures by Jonathan Browning.
The South Korean authorities bought nearly US$1 billion in intervention aimed at curbing the won’s strength on Thursday, dealers in Seoul estimated.
The won reversed initial gains on the reported intervention and warning remarks by a deputy finance minister. It ended local trade at 1,085.9 per dollar, down 0.3 percent from Wednesday’s close or 0.5 percent below its session high.
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