Won Declines With Korean Stocks as Oil Plunge Curbs Risk Taking
- Central bank's less dovish stance supports won: BBH analyst
- BOK seen to refrain from cutting policy rate Tuesday: survey
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South Korea’s won weakened after the failure of talks to limit oil output spurred a plunge in crude, curbing demand for emerging-market assets.
The Kospi index of local shares fell the most in almost two weeks as a meeting between the world’s biggest producers ended in Doha on Sunday without any agreement. The Bank of Korea will refrain from following India and Indonesia in easing monetary policy further on Tuesday, and keep its benchmark interest rate at a record-low 1.5 percent for the 10th straight month, according to 17 of 20 economists surveyed by Bloomberg. The rest see a 25 basis point cut.