Seoul: Won moves to 1-month high on stronger yuan; stocks edge up
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[SEOUL] The South Korean won jumped to its highest in a month after the People's Bank of China to set the yuan's midpoint at its strongest so far this year.
The won closed at 1,193.1 per dollar at the end of onshore trade, up 0.9 per cent from Thursday's close of 1,203.5.
It reached as high as 1,193.0 midday, which was the highest intraday level since Feb. 11.
South Korean shares edged up on Friday, with trading tepid as investors took a cautious stance ahead of a Federal Reserve policy meeting.
The Korea Composite Stock Price Index (KOSPI) closed up 0.1 per cent at 1,971.41 points.
On a weekly basis, stocks rose 0.8 per cent, marking four consecutive weeks of gains.
Navigate Asia in
a new global order
Get the insights delivered to your inbox.
REUTERS
Share with us your feedback on BT's products and services
