Korean won strengthens on dollar sales, risk-taking mood
The won-dollar exchange rate, as well as the benchmark KOSPI and KOSDAQ indices, are displayed at a Woori Bank in Seoul, Monday. Yonhap
The Korean won strengthened against the U.S. dollar Monday, helped by dollar selling by local exporters and a risk-taking mood as artificial intelligence-related jitters showed some signs of easing.
The won was quoted at 1,347.1 won per dollar at 3:30 p.m., up 9.5 won from the close of the previous stock trading session.
At one point in the afternoon trading, the Korean currency climbed to a high of 1,346.7 won per dollar before trimming some gains.
However, the won's advance was limited as foreign investors remained net sellers of local stocks for a seventh consecutive session.
Foreign investors sold a net 693 billion won ($514 million) worth of local shares during the latest regular stock trading session, with the benchmark Korea Composite Stock Price Index falling 0.81 percent to close at 5,018.85.