Latest news with #won
Bloomberg
2 days ago
- Business
- Bloomberg
Korea's Pension Fund Stops Selling Dollars After Won Rebound
South Korea's National Pension Service has ended a five-month strategy of selling dollars in a bid to support the won, according to people familiar with the matter. The halt came after the won appreciated sharply in recent weeks to its strongest against the dollar since October, triggering an internal formula to stop sales of the greenback, said the people, who asked not to be named because they weren't authorized to speak publicly on the transactions.
Bloomberg
07-05-2025
- Business
- Bloomberg
Korean Won Climbs After Holiday, Catching Up With Asian Peers
The South Korean won rose on Wednesday as it caught up with gains in regional currency peers after the local market was shut for a holiday earlier this week. The won strengthened 1.3% to 1,383.00 against the dollar, the highest since November 2024, in early trading. The advances are in line with moves seen in Asian peers this week as traders dumped dollars amid hopes of a thaw in global trade tensions. Improving risk sentiment after US and China agreed to meet for trade talks helped gains.
