You are here

Seoul: Won ends at more than 6-week low on US dollar strength

7_26251216 - 26_11_2012 - KOREA WON.jpg

[SEOUL] The South Korean won dropped to more than a six-week closing low on Wednesday on a stronger dollar and as foreign investors sold shares, putting pressure on the domestic currency.

The won was quoting at 1,123.6 to the US dollar at the conclusion of onshore trade, down 0.3 per cent compared to Tuesday's close of 1,120.4.

South Korean shares ended firmer as institutional buying offset foreign selling.

Offshore investors sold a net 548.1 billion won (S$675.67 million) worth of Korea Composite Stock Price Index (Kospi) shares while the institutions bought a shares worth net 619.3 billion won.

The Kospi closed up 0.1 per cent at 2,033.73 points.