S. Korean won gains slightly against U.S. dollar ahead of BOK's rate decision

Seoul, Aug. 26 (Yonhap) -- The South Korean won edged up against the U.S. dollar on Wednesday as market participants cautiously awaited the Bank of Korea's (BOK) key rate decision, according to Yonhap. The local currency was trading at 1,384.8 won per dollar at 3:30 p.m., a 1.3-won increase from the previous trading day's close.

At the beginning of the local bourse's trading session, the won was quoted at 1,383 won per dollar and climbed to a high of 1,388.3 won. In July, the BOK increased the benchmark interest rate by 0.25 percentage points to 2.75 percent, the first rate hike in 3.5 years. BOK officials have consistently emphasized their commitment to fighting inflation, leading market observers to speculate whether the BOK will make a rare consecutive rate hike.

On the same trading day, foreigners unloaded a net 116.1 billion won (US$83.8 million) worth of domestic stocks. The Korea Composite Stock Price Index, which serves as a benchmark, gained 0.97 percent and closed at 6,808.21.