SEOUL, Nov. 8 (Korea Bizwire) — Joe Biden’s election as U.S. president is likely to keep the South Korean currency strong against the U.S. greenback for a while, which will work to trigger foreign capital inflow to the local stock markets, analysts said Sunday. The local currency closed at 1,120.4 won against the U.S. dollar [...]
SEOUL, Sept. 12 (Korea Bizwire) – The money supply in South Korea jumped 5.1 percent in July from a year earlier, the central bank said Tuesday. The nation’s M2 totaled 2,472.1 trillion won (US$2.18 trillion) in July, compared with 2,352.2 trillion won a year earlier, the Bank of Korea (BOK) said in a statement. The [...]
SEOUL, April 12 (Korea Bizwire) – The won’s movement against the dollar widened slightly in March from a month earlier, central bank data showed Wednesday. The session-over-session changes in the dollar-won exchange rate averaged 0.47 percent last month, compared to 0.39 in February, the Bank of Korea (BOK) said. “The won rose against the dollar [...]
SEOUL, March 29 (Korea Bizwire) – The South Korean currency is expected to strengthen further against the U.S. dollar for the time being on the Fed’s confirmation of its tight monetary policy and other factors, analysts said Wednesday. With the greenback remaining weak against major Asian monetary units, the local currency is highly likely to [...]
SEOUL, Aug. 17 (Korea Bizwire) – The South Korean government is planning to examine the possibilities of the internationalization of the Korean won, through the formation of a task force that is expected to begin deliberations as early as next month. According to the Ministry of Strategy and Finance on August 16, the task force [...]
SEJONG, May 21 (Korea Bizwire) — The real value of the South Korean won against other key currencies hit an over seven-year high in April, data showed Thursday, in a negative development for the country’s exports. The real effective exchange rate (REER) of the South Korean won stood at 115.34 points last month, the highest level [...]