(Bloomberg) -- South Korea's won rose to the highest
in seven months against the dollar on speculation overseas
investors increased purchases of the nation's stocks. Bonds
declined.
The currency was poised for a fifth week of gains as stock
exchange data showed funds abroad bought $65 million more Korean
shares than they sold within the first 15 minutes of trading. The
Bank of Korea yesterday boosted benchmark interest rates and said
the increase ``won't be a hurdle'' to the economy, which will
likely grow by more than it previously expected.
Read more at Bloomberg Currencies News
in seven months against the dollar on speculation overseas
investors increased purchases of the nation's stocks. Bonds
declined.
The currency was poised for a fifth week of gains as stock
exchange data showed funds abroad bought $65 million more Korean
shares than they sold within the first 15 minutes of trading. The
Bank of Korea yesterday boosted benchmark interest rates and said
the increase ``won't be a hurdle'' to the economy, which will
likely grow by more than it previously expected.
Read more at Bloomberg Currencies News
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