South Korean Won Climbs on Current Account Surplus
The South Korean won gained today as the nation’s current account surplus advanced to the highest level in four months in April, increasing demand for South Korean assets.
The Bank of Korea reported today that South Korea’s current account surplus climbed to $1.88 billion in April from the revised reading of $1.33 billion in March. The surplus rose as exports increased despite the strength of the nation’s currency. The won also strengthened as investors for the second day were buying more Korean stocks than they were selling.
USD/KRW fell to 1,084.85 from 1,089.60 today as of 10:36 GMT, following the drop to 1,078.70.
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Earlier News About the South Korean Won:
- Korean Won Rebound as Exporters Profit from Currency's Drop (2011-05-24)
- South Korean Won Retreats on Possibility of Intervention (2011-04-05)
- Expanding South Korean Economy Increases Appeal of Won (2011-03-30)
- South Korean Won Becomes Stronger with Better Global Economy (2011-03-29)
- G-7 Will Help Japan, South Korean Won Gains (2011-03-18)