Won Rises to 13-Month High on Speculation Exporters Sold Dollars
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South Korea’s won strengthened to a 13-month high on speculation exporters sold the dollar to convert overseas earnings. Government bonds advanced.
The won recovered from a loss of as much as 0.2 percent earlier after official data showed today the current-account surplus widened to $6.07 billion in September on increased exports of cars and electronics. That was the second-biggest excess on record. The Bank of Korea said today it is discussing plans to review banks’ currency forward positions with the Financial Supervisory Service, which may lead to regulation.