Won declines amid concern weak Yen may negatively influence Korean exports

The Won dropped to the lowest in four years amid speculation lawmakers would prefer depreciation to support exporter of South Korea against more competitive Japanese rivals. The currency slid 0.3% to 1,119.05 per greenback, after earlier fall of 0.7%, the biggest intraday slump since April 8. Generally the Won depreciated 4.9% per Dollar and advanced 10% versus the Yen in the same period. The Bank of Korea indicated that it would impose market- stabilizing measures if necessary.