The South Korean currency surged more than eight percent against the U.S. dollar last month, posting the sharpest gain among major Asian currencies.
 
According to Yonhap Infomax and London-based research firm Capital Economics, the won soared eight-point-15 percent against the greenback in March.
 
The increase recorded the largest growth among eleven Asian currencies.
 
The Malaysian ringgit gained seven-point-97 percent over the cited period, followed by the Singaporean dollar with four-point-32 percent and the Taiwanese dollar with three-point-44 percent.
 
Capital Economics said that Asian currencies strengthened against the U.S. dollar as investors' sentiment improved on eased concerns about a further devaluation of the Chinese yuan.
 
Asia economist Gareth Leather at the research firm said that the Australian central bank's announcement to invest some five percent of its foreign exchange reserves into the South Korean won accelerated the currency appreciation.