South Korean Won Pares Losses

The South Korean won rose today, paring previous losses, after the currency fell to the lowest level in two weeks as the exporters are preparing to convert their overseas earnings before the end of the year.

The won dropped earlier after the government said that it’s planning to impose the levy on the overseas borrowing. The currency also gained on the signs of the economic recovery, including the growth of the department-store sales, which posted the increase by 10.1 percent in November, following the advance by 13.3 percent in the month before.

USD/KRW fell from 1,155.35 to 1,153.40 as of 10:11 GMT today.

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