South Korea’s won strengthened for a second straight session after authorities stepped in to curb volatility in the foreign exchange market.

The won traded at one-thousand-440-point-three per dollar as of the 3:30 p.m. spot trading on Friday, a boost of nine-point-five won from the previous session.

The currency had buckled against the dollar into the one-thousand-480 range earlier this week before tumbling sharply on Wednesday following a strong verbal intervention by financial authorities.

The won opened slightly weaker on Friday at one-thousand-449-point-nine but quickly reversed course, sliding as reports emerged that the National Pension Service had begun strategic currency hedging.

The won exchange rate briefly strengthened sharply to one-thousand-429-point-seven during trading, marking its lowest level since November 3.

Foreign investors also provided support by buying roughly one-point-seven trillion won worth of local shares, reinforcing the downward pressure on the exchange rate.