Arab Today, arab today south korean won hits high against us dollar
Last Updated : GMT 18:42:37
Arab Today, arab today
Arab Today, arab today

South Korean Won hits high against US dollar

Arab Today, arab today

Arab Today, arab today South Korean Won hits high against US dollar

South Korea's currency
Seoul - QNA

The South Korean won hit a fresh six-year high against the US dollar on Wednesday, extending its rally to the third consecutive day in the face of verbal intervention by currency authorities as appetite for risk assets increased and foreign investors accelerated their buying of local stocks.
The local currency was quoted at 1,009.70 per the dollar, up 2 won from Tuesday's close. The won hit an intra-day high of 1,009.3 at one point, the strongest level since July 31, 2008, but the won's gains were capped as the country's central bank and the finance ministry expressed concerns over one-sided "herd behavior" in the foreign currency market, according to (Yonhap) news agency.
"Today's gains are roughly in line with the global trend," said Jung Kyung-parl, a currency analyst at KEB Futures Co. "Offshore investors are continuing selling US dollars," he said.
The country's currency authorities stepped in to curb the won's sharp gains, but their efforts would fizzle out to some degree, he said.
In a statement, foreign currency authorities said they are worried about a possible one-sided herd behavior among market participants. "We are closely monitoring transaction trends by companies and other market players including offshore ones," they said.
Analysts said the won's recent gains are fueled by the country's steady current account surplus, combined with continued inflows of foreign capital into the local stock market.
South Korea logged a current surplus of US$9.3 billion in May, extending its surplus streak to the 27th straight month.
The May figure, without seasonal adjustments, marks the highest level since October last year when the country's current surplus soared to a record high of $11.11 billion.
The local currency has already gained some 12% against the greenback in the past year, and the gain has further accelerated in recent months. This year, the won advanced some 5% to the dollar.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today south korean won hits high against us dollar Arab Today, arab today south korean won hits high against us dollar

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today south korean won hits high against us dollar Arab Today, arab today south korean won hits high against us dollar

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday