The South Korean won rallied more than 1 per cent on Friday after falling to a five-week low in the previous session, reflecting broad weakness in the dollar after a batch of worse-than-expected US economic data.
The won was fetching 1,097.0 to the dollar at the conclusion of onshore trade compared with 1,110.7 quoted at the end of Thursday’s session.
The local currency extended gains on stop-loss selling in the dollar and exporter demand for settlement ahead of a long holiday break next week.
South Korean shares rose as risk appetites were whetted by reports of a ceasefire in Ukraine as well as hopes for a debt agreement between Greece and its international creditors.
The Korea Composite Stock Price Index (KOSPI) gained 0.82 per cent to close at 1,957.50 points.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.