The South Korean won wavered on Friday after hitting its strongest level since early November, Bloomberg reported the same day.
The currency rose 0.2% to 1,444.20 per dollar on Friday, after gaining 1.2% in the morning session.
Friday's gains added to Wednesday's 2.3% increase as onshore trading resumed after Christmas. The domestic currency rebounded from close to a 16-year low after authorities warned of strong action to check excessive weakness.
Authorities also rolled out new tax measures to steady the foreign exchange market, while the National Pension Service introduced a revised currency-hedging strategy, the report said.
The dollar-won pair could fall further in 2026 if it closes below the 1,415 level, Christopher Wong, a currency strategist at Oversea-Chinese Banking Corporation (SGX:O39) was quoted saying.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Comments