S. Korean won slightly falls against U.S. dollar on foreign outflows

On Tuesday, the South Korean won exhibited a marginal decline against the U.S. dollar, reflecting the ongoing foreign investor sentiment. The currency was recorded at 1,432.5 won per dollar at 3:30 p.m., a drop of 2.7 won from the previous day's close. The won commenced its trading day at 1,431.8 won per dollar, maintaining a steady value throughout the session.

The dollar's weakness was attributed to the recent joint market intervention undertaken by the United States and Japan. This intervention occurred just a week prior to the currency's current status. The dollar's depreciation was further influenced by President Donald Trump's claims regarding ongoing negotiations between Iran and the U.S. over the reopening of the Strait of Hormuz.

However, Tehran vehemently denied any intention to engage in dialogue with Washington. Notably, during the same trading session, foreigners made a net sale of 370.5 billion won (equivalent to US$258.1 million) worth of local stocks. The Korea Composite Stock Price Index, serving as a benchmark for local stocks, experienced a 1.62 percent rise, concluding the day at 6,358.95.