Korean won climbs on central bank comments

The South Korean won had its biggest gain in more than two weeks Tuesday after the Bank of Korea signaled it won't sell the currency to protect exporters, prompting them to speed up the conversion of their overseas earnings.

Bank of Korea Assistant Governor Rhee Yeung Kyun was quoted as saying in a phone interview from Seoul that the bank has ``no intention to participate in the market to promote exports.'' The won's 4.2 percent rally against the dollar in the past month erodes the value of fo

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