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Seoul: Won extend gains to 15-week closing high on US dollar selling

Thursday, February 23, 2017 - 16:28

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[SEOUL] The South Korean won finished at a more than 15-week high on Thursday, extending gains on continued month-end US dollar-selling from exporters.

US Federal Reserve's policy meeting minutes, which showed policymakers' caution on rates, also helped to rein in the US dollar.

The won was quoted at 1,137.3 to the US dollar at the conclusion of onshore trade, up 0.5 per cent compared to Thursday's close of 1,142.6. It was the won's highest close since Nov 8, 2016.

South Korean shares held steady with the Korea Composite Stock Price Index (Kospi) closing at 2,107.63 points compared to the previous close at 2,106.61.

Foreign investors turned to net buyers and bought a net 32.1 billion won worth of Kospi shares. They have been net buyers for a sixth straight session.

REUTERS

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