South Korean Won Jumps on Interest Rate Outlook
The South Korean won jumped today on the speculation that the central banks of the Asian nations would raise the interest rates, attracting more investors to the region.
The Bank of Korea expected to allow the won appreciate as the inflation forecast to rise to the upper end of the targeted range by the fourth quarter. The growth of the consumer prices in some other Asian countries, including Malaysia, also accelerated.
USD/KRW slumped from 1,186.40 to 1,175.90 today as of 13:59 GMT.
If you have any questions, comments or opinions regarding the South Korean Won, feel free to post them using the commentary form below.
Tags
Asia, Bank of Korea, Inflation, Interest Rates, Malaysia, South Korea, USD/KRW, Won
Categories
Earlier News About the South Korean Won:
- South Korean Won Up on Outlook for Rates Hike & Inflation (2010-08-09)
- South Korean Won Rallies, Will Government Intervene? (2010-08-05)
- South Korean Won Climbs on Record Reserves (2010-08-03)
- Korean Won Recovers on Corporate Report (2010-07-22)
- South Korean Won Rises with Interest Rates (2010-07-09)
