Korean won gains against US dollar as oil prices slide
The Korean won climbed against the U.S. dollar Tuesday, as global oil prices declined with U.S. President Donald Trump signaling a possible resolution to the war with Iran. The won was quoted at 1,337.5 won per dollar at 3:30 p.m., up 9.6 won from the close of the previous stock trading session. After meeting with Qatar Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani, a key mediator…
The Korean won strengthened against the U.S. dollar on Tuesday as global oil prices fell and President Donald Trump suggested a possible end to the conflict with Iran. The currency traded at 1,337.5 won per dollar, marking a 9.6-won increase from the previous trading day's close. Following a meeting with Qatar's Prime Minister, Sheikh Mohammed bin Abdulrahman Al Thani, at the White House, Trump stated that no additional strikes against Iran would be required for now.
The won's rise was further fueled by a significant rebound in the stock market, as foreign investors shifted from net sellers to net buyers of local stocks. During the most recent regular trading session, foreign investors purchased a total of 350 billion won, equivalent to $260 million, worth of domestic shares. The Korea Composite Stock Price Index rose by 4.39 percent, closing at 5,239.13.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Korean won gains against US dollar as oil prices slide koreatimes.co.kr
- S. Korean won gains against U.S. dollar as oil prices slide en.yna.co.kr
