Won is undervalued by 15-20%

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Source: Bloomberg
© Scanpix/Reuters
South Korea's currency is 15-20% undervalued, according to Eaton Vance Management analysts' estimations, which makes the domestic government bonds very attractive on the future perspective that the Won will appreciate. This year, South Korea's currency has strengthened by 4.4% reaching 11-month high at 1,102.5 per the U.S. Dollar, but improving domestic trade surplus and good future economic perspectives suggest that the Won is too cheap for the current market price.
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