Market News
BOK's Rhee says recent dollar-won levels do not reflect economic fundamentals - REUTERS
By Cynthia Kim
SEOUL, Jan 2 (Reuters) - South Korea's won weakened on the first trading day of the year on Friday even after authorities renewed their determination to stabilize foreign exchange markets following a package of measures to bolster the local currency.
The won has been hovering at a 16-year low against the dollar as the interest rate differential between South Korea and the U.S. reached two percentage points, the widest since 1999, which contributed to higher demand for dollars by Korean retail and institutional investors.




