The South Korean won rose today to highest level in almost seven weeks as the inflows of foreign funds help the economy of South Korea, making the nation’s assets more attractive.
The Bank of Korea reported that the South Korean gross domestic product advanced 0.5 percent in the fourth quarter of 2010, confirming the previous estimate. The government report this week is expected to show that the inflation accelerated to 4.8 percent in March, the highest level in two years.
USD/KRW fell from 1,111.60 to 1,099.80 as of 14:15 GMT today.
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