Korean won inches down against US dollar ahead of Fed meeting

The Korean won has experienced a slight decline against the US dollar, as traders remain vigilant ahead of an upcoming Federal Reserve meeting. The currency was quoted at 1,323.7 won per dollar at 3:30 p.m., marking a decrease of 0.6 won from the previous session's close. However, during morning trading, the won briefly reached a peak of 1,322.8 won per dollar, driven by robust economic growth in the third quarter.

South Korea's economy expanded by 1% in the July-September period, largely fueled by semiconductor exports and increased investments. Foreign investors also showed confidence in the local market, buying a total of 592.9 billion won ($447 million) worth of shares during the latest trading session, resulting in the Korea Composite Stock Price Index surging 3.09% to close at 5,638.34.

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.