South Korea FX authorities suspected to have sold dollars to curb won weakness: dealers

May 30, 2019

SEOUL (Reuters) – South Korea’s foreign exchange authorities were suspected to have sold dollars to curb weakness in the won  on Thursday morning, several dealers told Reuters.

The won started gaining shortly after the market opened, hitting a high of 1,189.4 per dollar from 1,194.0 in onshore trading.

One dealer, who spoke on condition of anonymity, said the authorities seemed determined to show their resolve in containing won weakness.

The won last fetching 1,190.8 per dollar as of 0041 GMT.

(Reporting by Yena Park, writing by Joori Roh; Editing by Shri Navaratnam)

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