Korean Won Weakens Against Dollar Amid Foreign Selling of Local Stocks

The South Korean won depreciated slightly against the US dollar on Monday due to foreign investors selling local stocks.

At 3:30 p.m., the won was quoted at 1,418.4 per dollar, a decline of 2.3 won from last Friday's close.

The won initially rose to 1,407.3 intraday but retreated as exporters bought dollars for profit-taking.

Foreigners sold a net 1.4 trillion won worth of local stocks during the latest session, with the Korea Composite Stock Price Index rising 0.65% to close at 6,299.66.