S. Korean won weakens against US dollar on lingering worries over higher yields
The South Korean won weakened against the U.S. dollar Thursday, as worries linger over the persistent rise in U.S. Treasury yields. The won was quoted at 1,358.4 won per dollar at 3:30 p.m., down 5.6 won from the close of the previous stock trading session. The won's weakness came as expectations were lowered after data showed a key U.S. inflation gauge gained less than expected in August.…
The South Korean won experienced a decline against the U.S. dollar on Thursday, amid concerns over the persistent increase in U.S. Treasury yields. The exchange rate stood at 1,358.4 won per dollar at 3:30 p.m., marking a 5.6 won decrease from the previous session's close. This depreciation followed expectations being lowered due to a lower-than-expected rise in a key U.S. inflation gauge in August.
Despite this, the 10-year U.S. Treasury yield surpassed the 5.3% mark, the highest level in approximately 24 years. During the latest regular trading session, foreigners sold a net 547.3 billion won worth of local stocks. Meanwhile, the benchmark Korea Composite Stock Price Index rose by 1.95% and closed at 6,917.35.
Brief written by urgent.news from The Korea Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
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