Korean Won Weakens Against Dollar Amid Foreign Outflows

The South Korean won slightly weakened against the U.S. dollar on Tuesday due to foreign outflows, according to Yonhap News Agency.

The won was quoted at 1,432.5 won per dollar at 3:30 p.m., down 2.7 won from the previous close.

This came as foreigners sold a net 370.5 billion won (US$258.1 million) worth of local stocks during the latest trading session.

The dollar remained weak after the United States and Japan confirmed their joint market intervention last week, which may have contributed to the won's decline.