The South Korean won rose to its strongest level since October as exporters sold US dollars.

Due to exporters converting their dollar revenues into local currency, the Korean won rose to its highest level in nearly 10 months. The won strengthened against the dollar by as much as 0.7%, reaching 1,414.55 won per dollar, the strongest level since October; afterward, the increase narrowed to 0.3%. Min Gyeong-won, an economist at Woori Bank, stated: While I believe there is still buying interest in the low-valued dollar against the won, the pressure from exporters selling dollars is definitely dominant.