Korean won rises against US dollar, South Korean government issued a warning earlier about excessive weakness of the won.

After the South Korean government stated that the excessive weakness of the South Korean won is undesirable, the won subsequently rose. The US dollar fell by 0.9% to 1467.50 against the South Korean won at one point, before dropping back. South Korean officials stated that they have convened a series of meetings, and participants in the foreign exchange market will soon see the government's firm determination.