Wednesday, April 18, 2007

Korean Won Rises to Three-Month High on Stock Buying, Taiwan Dollar Drops

(Bloomberg) -- South Korea's won rose to the strongest since January as overseas investors added to holdings of the nation's stocks on signs the economy is improving.

Global funds have bought more shares than they sold for five days, helping the won advance 0.5 percent and sending the Kospi stock index to a record high. Government reports this month showed department store sales increased and exports, which account for 40 percent of the economy, climbed more than expected.


Read more at Bloomberg Currencies News

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