SEOUL, Oct. 16 (Yonhap) -- The South Korean won strengthened to a near two-year high against the U.S. dollar Friday after Federal Reserve Chairman Kevin Warsh refrained from signaling the outcome of a policy meeting this month and foreign investors turned to net buyers of local stocks.
The won was quoted at 1,331.4 won per dollar at 3:30 p.m., up 13.2 won from the close of the previous stock trading session, marking the strongest level since Oct. 2, 2024.
Speaking at the International Monetary Fund meeting in Bangkok, Warsh gave little indication of the Fed's policy direction at its upcoming meeting, prompting traders to increase their expectations that the Fed may hold its key rate steady this month.
The won's advance also came as offshore investors snapped their eight-day selling streak of local stocks.
Foreign investors purchased a net 341.3 billion won (US$256 million) worth of local shares during the latest regular trading session, with the benchmark Korea Composite Stock Price Index rebounding 2.05 percent to close at 5,668.05.
This photo, taken Oct. 16, 2026, shows the dealing room of Hana Bank in Seoul. (Yonhap)
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