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Seoul: Won closes at more than 1-year high on weak US growth data

Monday, August 1, 2016 - 14:53

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[SEOUL] The South Korean won ended at its strongest level in more than a year on Monday as the greenback slumped on weak US second-quarter economic growth data.

The won was quoted at 1,108.0 to the dollar at the conclusion of onshore trade, up 1.1 per cent from Friday's close of 1,120.2. It was the won's highest since June 23, 2015.

South Korean shares also jumped while foreign investors stretched their buying spree into 18th day.

The Korea Composite Stock Price Index (Kospi) closed up 0.7 per cent at 2,029.61.

Offshore investors bought a net 309.3 billion won (S$363.9 million) worth of Kospi shares for the day.

REUTERS

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