The South Korean won advanced today on signs that South Korea’s economy is improving as exporters were converting their profits to the local currency ahead of the year-end.
The current-account surplus widened to the record $6.88 billion in November. Industrial output increased 2.3 percent last month from the month before, much more than analysts have predicted (0.8 percent). That was the biggest advance since January. Economists are worried though that the government may intervene to curb the currency’s appreciation.
USD/KRW fell from 1,072.2999 1067.7550 as of 13:01 GMT today.
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