The South Korean won firmed against the dollar on Tuesday, reversing losses after the Reserve Bank of Australia (RBA) surprised markets by keeping its policy rate steady, with exporters’ demand for settlements providing further support.
The won was quoted at 1,096.4 to the dollar at the end of onshore trade, compared with 1,100.8 at Monday’s close.
South Korean shares edged higher on Tuesday to extend a five-month high, breaking above the psychologically important 2,000-point level.
The Korea Composite Stock Price Index (KOSPI) closed up 0.2 per cent at 2,001.38 points.
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.