The South Korean won was heading to the biggest weekly advance among Asian currencies since September as speculations that the US Federal Reserve will not withdraw stimulus were driving the dollar down. The currency retreated today.
South Korean Won KRW
Detailed information and fundamental factors
Central Bank: Bank of Korea
Interest Rate: 2.50%
Public Debt to GDP Ratio, 2011: 33.6%
Trade Balance, 2011: $32.1 bln.
Inflation, 2011: 4%
Supporting Factors
Major industrial exporter
medium
High-yielding interest rates
weak
Factors of Weakness
Military instability on the Korean peninsula
Currency manipulation in favor of country's exporters
medium
The South Korean won is the currency officially used in South Korea. It was introduced in 1962 and allowed to float freely in 1997.
South Korean Won News Archive
Won Gains as Exporters Sell Dollars
May 27th, 2013 at 11:24
South Korean Won
The South Korean won gained today as local exporters were selling dollar, while signs of economic growth attracted overseas investors to South Korean assets.
Intervention Concerns Push Won Lower
May 15th, 2013 at 9:18
South Korean Won
The South Korean won declined today on speculations that the weakness of the Japanese yen will prompt nation’s policy makers to intervene in an attempt to push the exchange rate lower.
Won Rallies amid Risk Appetite
May 14th, 2013 at 11:43
South Korean Won
The South Korean won rallied today as positive data from the United States made investors more courageous and willing to buy riskier assets of emerging economies.
South Korean Won Retreats Even amid Favorable Fundamentals
May 02nd, 2013 at 10:01
South Korean Won
The South Korean won retreated today after touching the highest level since March. The earlier rally occurred after South Korea’s trade balance posted surplus and manufacturing expanded last month.
Widening South Korean Current-Account Surplus Leads to Stronger Won
April 29th, 2013 at 11:24
South Korean Won
The South Korean won soared today as the nation’s trading account surplus widened, increasing the attractiveness of South Korean assets and leading to hopes for higher capital inflows into the country.
Won Gains amid Easing Tensions Between North & South Koreas
April 19th, 2013 at 10:22
South Korean Won
The South Korean won gained today as South Korea, Japan and China planned to coordinate efforts for resolving the political tension between North and South Korea’s.
Won Suffers from Global Economic Growth Concerns
April 18th, 2013 at 8:42
South Korean Won
The South Korean won declined today as concerns about global economic slowdown made investors pull their capital away from riskier assets.
Won Rebounds After Sell-Off
April 16th, 2013 at 10:50
South Korean Won
The South Korean won rebounded today as regional stocks advanced after yesterday’s sell-off. It looks like traders are returning to riskier assets, reversing earlier losses.
South Korean Won Rises Despite Escalating Political Tension
April 03rd, 2013 at 17:09
South Korean Won
The South Korean won rose against the US dollar today despite the threat of war between South and North Koreas. The currency remains under pressure as investors are selling South Korean stocks.
