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S.Korea says to take action over falling won

Reuters - Friday, August 8

SEOUL, Aug 8 - The South Korean won <KRW=> sharply cut losses against the dollar on Friday after a senior Finance Ministry official warned of action to counter "excessive one-way bets" against the currency.

Choi Jong-ku, head of the ministry's international finance bureau, said by telephone it was not desirable for the won to move on excessive one-way bets.

The won briefly rebounded above 1,022 per dollar on Choi's comments, after falling to a one-month low of 1,026.9, compared with Thursday's domestic close of 1,016.5 <KRW=KFTC>. (Reporting by Lee Kyoung-ho and Yoo Choonsik; editing by Jonathan Hopfner)

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