S. Korean won extends gains against U.S. dollar on strong exports
Won reaches highest level since October 2024, driven by strong exports and foreign stock inflows.
Quick Look
The South Korean won reached a two-year high against the U.S. dollar at 1,325.2 won, bolstered by surging exports and robust foreign stock market inflows.
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Why It Matters
The South Korean won extended its gains to hit a fresh two-year high against the U.S. dollar, supported by strong exports and foreign inflows.
SEOUL, Oct. 21 (Yonhap) -- The South 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 (US$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.
Open Questions
- Will export growth sustain into the next quarter?
- How long will foreign capital inflows continue?
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