Korean won strengthens on dollar selling
The Korean won advanced against the U.S. dollar Tuesday, driven by dollar sales by local exporters. The won was quoted at 1,356.7 won per dollar at 3:30 p.m., up 8.4 won from the close of the previous stock trading session. Traders attributed the won's advance to dollar sales by local exporters, which typically offload the greenback at the end of each month. However, the won's gain was limited…
The Korean won strengthened against the U.S. dollar on Tuesday, with the currency reaching 1,356.7 won per dollar by 3:30 p.m. This increase of 8.4 won from the previous trading session was attributed to dollar sales by local exporters, a common practice at the end of each month. However, the won's gain was tempered by rising oil prices and fading hopes for negotiations to reopen the Strait of Hormuz.
Foreign investors sold a net 2.9 trillion won ($2.14 billion) worth of local stocks in the latest regular trading session, with the benchmark Korea Composite Stock Price Index falling 0.27 percent to close at 6,870.81.
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- Korean won strengthens on dollar selling koreatimes.co.kr
- S. Korean won strengthens on dollar selling en.yna.co.kr
