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S.Korean won ends down 1.7 pct on econ worries
Reuters - 1 hour 33 minutes ago
SEOUL, Dec 2 - The South Korean won ended local trade down 1.7 percent against the dollar on Tuesday as renewed concerns over the impact of a global recession on the export-driven economy punched down local shares.
The won <KRW=> initially fell as much as 2.9 percent but recovered some of its early losses as some traders cited dollar-selling intervention by the authorities and on exporters demand for settlements.
The local currency was quoted at 1,464.5/4.6 per dollar as of 0600 GMT, compared with Monday's domestic close <KRW=KFTC> of 1,440.0. It slid to as low as 1,482.9.
Seoul shares <.KS11> closed down 3.35 percent as foreign investors unloaded a net 19.5 billion won worth of stocks in the country's main exchange.
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