South Korean won falls to weakest level since 2009
The South Korean won dropped to its lowest level since 2009 against the U.S. dollar on Friday, amid renewed tensions in the Middle East and net selling of local stocks by foreign investors, News.Az reports, citing Yonhap.
The won opened at 1,529 won per dollar, up 0.7 won from the previous session’s close, but later lost ground as foreign investors offloaded local shares.
By 10:38 a.m., the won was quoted at 1,547.1 won per dollar, down 13.1 won from the previous session.
RECOMMENDED STORIES
In terms of intraday trading, this marked the weakest level since March 2009.
As of Friday morning, foreign investors had sold a net 1.4 trillion won (US$900 billion) worth of local stocks.
Foreign investors remained net sellers of local stocks for the 20th consecutive trading session.
South Korean stocks also opened sharply lower as investors took a breather following a recent rally in tech shares amid uncertainty over the U.S.-Iran peace deal.
The benchmark Korea Composite Stock Price Index plunged 4.55 percent to 8,246.1 as of 10:44 a.m.
By Nijat Babayev
Similar news
