Won Rises with Help of Foreign Investors
The South Korean won climbed today as the overseas inflows into the nation’s economy confirmed attractiveness of the currency to the global investors.
The exchange data showed that the global funds bought $549 million more shares than they sold in the three days ended October 13. Korea’s President Lee Myung Bak and US President Barack Obama agreed to cooperate in stabilization of the currency in case such action would be required. The MSCI
USD/KRW fell from 1,158.00 to 1,156.2000 today as of 10:28 GMT, following the jump to 1,164.8500.
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Barack Obama, Lee Myung Bak, MSCI, South Korea, Standard & Poor's, USD/KRW, Won
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Earlier News About the South Korean Won:
- South Korea Keeps Rates Unchanged, Won Down (2011-09-08)
- Market Sentiment Improves, South Korean Won Gains (2011-08-29)
- Korean Won Falls on Anticipation of Crisis (2011-08-19)
- Korea's Won Retreats After Rally (2011-08-12)
- South Korea Holds Interest Rates, Won Goes Lower (2011-08-11)