The South Korean currency rose against the U.S. dollar Friday as the euro's rebound and eased geopolitical risks helped revive investors' appetite for risky assets, dealers said.
The local currency was trading at 1,205.80 won to the greenback as of 9:59 a.m., up 18.20 won from the previous session. The Korean unit rose as high as 1,199.60 won to the dollar at one point.
The won's gain came after foreign investors bought risky assets following rallies in U.S. markets and the euro's rebound, analysts said.
The single currency in the eurozone bounced back against the dollar after China denied a report that it would cut the weight of euro-denominated assets in its foreign exchange reserves.
The benchmark Korea Composite Stock Price Index (KOSPI) was trading at 1,616.74 as of 9:59 a.m., up 0.57 percent from Thursday's close. Foreign investors snatched up a net 12.3 billion won (US$10.2 million) worth of local stocks on the main bourse, snapping nine straight sessions of a selling spree.//Yonhap
The local currency was trading at 1,205.80 won to the greenback as of 9:59 a.m., up 18.20 won from the previous session. The Korean unit rose as high as 1,199.60 won to the dollar at one point.
The won's gain came after foreign investors bought risky assets following rallies in U.S. markets and the euro's rebound, analysts said.
The single currency in the eurozone bounced back against the dollar after China denied a report that it would cut the weight of euro-denominated assets in its foreign exchange reserves.
The benchmark Korea Composite Stock Price Index (KOSPI) was trading at 1,616.74 as of 9:59 a.m., up 0.57 percent from Thursday's close. Foreign investors snatched up a net 12.3 billion won (US$10.2 million) worth of local stocks on the main bourse, snapping nine straight sessions of a selling spree.//Yonhap
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