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South Korean won falls to weakest level since 2009
The currency reached 1,545.2 won per dollar on Monday. Foreign investors sold 7.7 trillion won of local stocks during the session.
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m. Monday, its lowest level since March 2009. The decline followed reports that the United States and Iran exchanged strikes after an Iranian projectile struck a cargo ship in the Strait of Hormuz. The won opened at 1,536.5 per dollar and briefly touched 1,539.7 before recovering slightly on news that the two sides might resume talks.
Foreign investors sold a net 7.7 trillion won ($4.9 billion) of local shares, extending a seven-day selling streak. The U.S. dollar stayed firm as traders priced in possible Federal Reserve rate increases.
The benchmark Korea Composite Stock Price Index closed 0.2 percent lower at 8,394.65. The won traded at 1,532.0 per dollar at the previous close.
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