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South Korean won jumps at open
Reuters - 53 minutes ago
SEOUL, Dec 26 - The won jumped 2.5 percent against the dollar early on Friday on speculation South Korean authorities would intervene in the market if needed to lift the local currency for the rest of the year.
Dealers have reported South Korean authorities selling dollars over the past several trading sessions to lift the won as much as possible and lessen the impact on local companies from the currency's sharp depreciation this year.
The won <KRW=> rose to as high as 1,274.8 per dollar from Wednesday's domestic close <KRW=KFTC> of 1,306.5.
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