Seoul:The South Korean won experienced a significant drop against the U.S. dollar on Wednesday as foreign entities appeared to engage in purchasing dollar futures and covering dollar-short positions. By 330 p.m., the won was quoted at 1,337.7 per dollar, marking a decrease of 14 won from the previous session's close.
According to Yonhap News Agency, during the afternoon trading, the won fell to a low of 1,342.3 per dollar. Despite expectations that the U.S. Federal Reserve will maintain its key policy rate this week, traders are closely watching for any indications of a potential rate hike later in the year.
Foreign investors made net purchases amounting to 815.8 billion won (approximately US$609 million) in local shares during the latest stock trading session. This activity contributed to the Korea Composite Stock Price Index rising by 6.63 percent, closing at 6,012.44.