Korean Won Climbs to Six-Week High on Foreign Stock Buying
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South Korea’s won rose to its strongest level in more than six weeks as overseas investors bought stocks on bets that the economy will weather the impact of Japan’s earthquake and radiation leaks at a nuclear plant.
The currency pared earlier losses after official data showed that the current-account surplus widened to $1.18 billion in February, from $154.7 million in January. Foreign investors bought more Korean equities than they sold for the ninth straight day, exchange data showed. The Kospi stock index rose