South Korea’s won went from being one of Asia’s worst performers to one of the world’s best last month as repatriation of chipmakers’ earnings, a tech sell-off and tighter monetary policy helped support the currency.
The won appreciated nearly 8 per cent against the dollar in July, making it the world’s second-best performer after the Colombian peso.
It strengthened sharply on Thursday to as much as Won1,419 a dollar before weakening to Won1,438 on Friday after a finance official said Seoul was “co-ordinating closely” with the US and Japan on currencies.
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