USD/KRW Slides 8.9% From July High as $1.9 Billion Inflows Lift Won

1 articles · Updated · tmgm.com · Aug 14

USD/KRW has fallen nearly 8.9% from its July peak of 1,559, even after a 0.3% rebound to 1,421 on Thursday as a stronger dollar briefly pressured the won.
Exporters' repatriation and renewed foreign buying have driven that retreat, with overseas investors net purchasing $1.9 billion of South Korean equities since July 30.
The equity rebound has helped pull money back into Korea: the Kospi jumped 3.6% after a 3.7% gain a day earlier and now stands 29.5% above its July 30 low.
Strong tech earnings and improving sentiment toward semiconductor and memory-chip makers underpinned the stock rally, while easing equity volatility could bring further near-term support for the won.
Year to date, the won is up 1.5% against the dollar, making it Asia's second-strongest currency and well ahead of the regional ex-Japan average decline of 2.1%.