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Seoul: Won recovers from 15-month low on yen rebound; shares edge higher

Friday, November 21, 2014 - 14:34
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- PHOTO: AFP

[SEOUL] The South Korean won closed a shade higher against the dollar on Friday, underpinned by short-covering and a rebound in the Japanese yen.

The local currency was quoted at 1,113.8 to the dollar at the conclusion of onshore trade, compared with Thursday's closing rate of 1,115.1.

The won notched a weekly loss of 1.2 per cent for a fourth-consecutive week of declines, the longest losing streak since May, 2013.

South Korean shares edged higher on Friday as risk appetites were supported by cheery US economic data as well as a rebound in the yen easing the pressure on local exporters.

The Korea Composite Stock Price Index (KOSPI) rose 0.35 per cent to close at 1,964.84.

REUTERS