South Korea FX authorities suspected to have sold dollars to curb won weakness: dealers


© Reuters. Illustration photo of a South Korean Won note

SEOUL (Reuters) – South Korea’s foreign exchange authorities were suspected to have sold dollars to curb weakness in the won  on Thursday morning, several dealers told Reuters.

The won started gaining shortly after the market opened, hitting a high of 1,189.4 per dollar from 1,194.0 in onshore trading.

One dealer, who spoke on condition of anonymity, said the authorities seemed determined to show their resolve in containing won weakness.

The won last fetching 1,190.8 per dollar as of 0041 GMT.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Comments

comments