South Korean Won Becomes Stronger with Better Global Economy

The South Korean won rose today on the forecast that the influence of the global economic recovery will outweigh the negative impact of the earthquake and the radiation leak in Japan.

The Kospi stock index gained 0.8 percent, reaching the highest level since February 7, as the number of investors who bought the Korean stocks exceeded the number of sellers for the ninth consecutive day. The won weakened earlier as the growing level of radiation was detected at the damaged Fukushima Dai-Ichi plant, signaling a partial fuel meltdown.

USD/KRW dropped from 1,114.25 to 1,112.60 as of 17:51 GMT today.

If you have any questions, comments or opinions regarding the South Korean Won,
feel free to post them using the commentary form below.

Leave a Reply

Your email address will not be published. Required fields are marked *