Seoul: Won jumps to a new 2016 high as c.bank holds rates; stocks wobble

[SEOUL] The South Korean won rose sharply on Tuesday as the Bank of Korea's Governor Lee Ju Yeol said rate changes would have limited effect in boosting the economy following the central bank's decision to hold rates for 10 straight months.

The currency was quoted at 1,136.3 to the US dollar at the conclusion of onshore trade, up 1.2 per cent from Monday's close of 1,150.2.

South Korean shares wobbled later in the day after marking another high for this year early in the session.

The Korea Composite Stock Price Index (KOSPI) closed up 0.1 per cent at 2,011.36 points.

REUTERS