Deutsche Bank Sees Won Dropping in April as Stock Dividends Paid
- Currency to weaken as foreigners repatriate payouts: lender
- Overseas investors net buyers of local stocks on Thursday
This article is for subscribers only.
South Korea’s won will fall as much as 4.1 percent by the end of the month as overseas investors convert their annual share payouts to dollars, according to Deutsche Bank AG.
“Foreigner demand for dollars to repatriate their stock dividends will weigh on the won this month,” said Choi Kyungjin, head of fixed income and currencies at Deutsche Bank in Seoul. The Korean currency will drop to 1,170 to 1,200 a dollar by the end of April, he forecast.