Korean won extends gains against US dollar on strong exports
The won-dollar exchange rate is displayed at a currency exchange booth in Myeong-dong, Seoul, Wednesday. Yonhap
The Korean won extended its gains to hit a fresh two-year high against the U.S. dollar Wednesday, supported by strong exports and foreign inflows.
The won was quoted at 1,325.2 won per dollar at 3:30 p.m., up 2.9 won from the close of the previous stock trading session.
For a fourth straight session, the won marked the highest level since Oct. 2, 2024.
Earlier in the day, government data showed that the nation's exports more than doubled to US$61.6 billion in the first 20 days of October, driven by robust shipments of semiconductor.
Foreign purchased a net 659.9 billion won ($497.3 million) worth of local shares during the latest regular stock trading session, with the benchmark Korea Composite Stock Price Index gaining 3.29 percent to close at 5,735.66.