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The won has been very stable so far......>

KOREAN WON
KOREAN WON: The won has been very stable so far this week in the face of the
global equity rout and a narrowing of US-Korean yield spreads, with the pair
dealing at 1131.0 last, remaining just clear of last week's highs. 
- Korean CDS markets have been very well behaved, with spreads narrowing
yesterday despite a further rise in US corporate credit spreads. 
- The finance ministry downgraded Korea's growth outlook for this year and next
to between 2.6% and 2.7% in its annual outlook released yesterday, which
compared with 2.9% and 2.8% previously expected for this year and next. 

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