Korean won sharply weakens against US dollar
The Korean won sharply weakened against the U.S. dollar Wednesday, as foreigners appeared to have purchased dollar futures and covered dollar-short positions. The won was quoted at 1,337.7 won per dollar at 3:30 p.m., down 14 won from the close of the previous stock trading session. At one point in afternoon trading, the won dropped to a low of 1,342.3 won per dollar. Although the U.S. Federal…
The Korean won experienced a sharp depreciation against the U.S. dollar on Wednesday, with the exchange rate falling to 1,337.7 won per dollar, a decrease of 14 won from the previous trading session. Traders noted a low of 1,342.3 won per dollar during afternoon trading. Despite the U.S. Federal Reserve's anticipated decision to maintain its key interest rate this week, there were concerns about a potential rate hike later in the year.
Foreign investors purchased a net 815.8 billion won worth of local shares during the latest regular stock trading session, leading to a 6.63 percent increase in the Korea Composite Stock Price Index, which closed at 6,012.44.
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.
Also reported by 2 other outlets
- Korean won sharply weakens against US dollar koreatimes.co.kr
- S. Korean won sharply weakens against U.S. dollar en.yna.co.kr
