Key facts
- The South Korean won weakened sharply against the U.S. dollar.
- The won was quoted at 1,337.7 won per dollar at 3:30 p.m. Wednesday.
- Foreign investors purchased a net 815.8 billion won (US$609 million) in local shares.
The South Korean won weakened sharply against the U.S. dollar on Wednesday, with the currency quoted at 1,337.7 won per dollar at 3:30 p.m., down 14 won from the previous session's close. The decline was attributed to foreign investors appearing to purchase dollar futures and cover dollar-short positions. At one point in afternoon trading, the won dropped to a low of 1,342.3 won per dollar. Meanwhile, foreign investors bought a net 815.8 billion won (US$609 million) of local stocks, and the benchmark Korea Composite Stock Price Index rose 6.63 percent to 6,012.44.