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THE INVESTOR] South Korea's local currency hit 1099.5 won against the US dollar in early morning trading on Aug. 10, a record low since June 22, 2015, when it was 1097.5 won.
S&P Global Ratings’ recent decision to upgrade South Korea’s sovereign rating and low expectations surrounding US Federal Reserve’s decisions on interest rates are considered to have contributed to the won’s gain.
The increasing foreign investments in South Korean companies is also considered as a major reason behind the greenback’s loss.
(
theinvestor@heraldcorp.com)
