The South Korean currency rose 1.18 percent to the U.S. dollar on Monday as investors’ risk-aversion eased on the back of improved U.S. economic data, dealers said.
The Korean stocks ended 0.23 percent lower as investors stepped to the sidelines due to prolonged currency volatility in the foreign exchange market, analysts said.
The local currency closed at 1,084.60 won against the greenback, up 12.8 won from the previous session.
“The won gained ground as U.S. data eased concerns about the fragile economy and some foreign investors unloaded the greenback to buy won-denominated bonds,” said Jeon Seung-ji, a currency analyst at Samsung Futures Co.
“But the won has extended its high fluctuations since last week and is likely to show high volatility for the time being.”
The benchmark Korea Composite Stock Price Index dipped 4.58 points to 1,953.21. Trading volume was moderate at 339.7 million shares worth 3.49 trillion won ($3.22 billion), with decliners outpacing gainers 475 to 337. (Yonhap News)
