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South Korean won falls ahead of Yellen testimony, stocks rise SEOUL: The South Korean won fell on Tuesday as foreigners bought dollars ahead of a closely watched testimony by Federal Reserve Chair Janet Yellen to a US Senate committee later in the day.The won was quoted at 1,024.6 to the dollar as of 0235 GMT, down 0.63 percent from Monday's domestic close at 1,018.2. It was poised for its worst intraday loss since February this year."The market currently anticipates US interest rates will be raised earlier than expected due to positive US economic indicators, but should Yellen say something unexpected, that will boost the dollar," said Hong Seok-chan, a currency analyst at Daishin Economic Research Institute.Market participants said few dollar sales from local exporters were spotted in early trading, adding to the weakness in the won.Meanwhile, South Korean shares rose early in the session, in line with Asian peers after US stocks ended higher overnight. Both foreigners and institutions snapped ...

Asian currencies mostly firmer; rupiah falters SINGAPORE: Emerging Asian currencies mostly inched higher on Monday, stabilising after taking a fall late last week, as investor jitters over problems at a Portuguese bank eased.Many Asian currencies had declined late last week as investors booked profits due to fears about the potential fallout from financial troubles at the family-owned holding companies behind Portugal's largest-listed bank.Market jitters, however, have gradually eased in the wake of a statement by Banco Espirito Santo, saying that loan ...
Yen weakens in Asia as Bank of Japan starts meeting TOKYO: The yen weakened in Asian trade Monday as the Bank of Japan kicked off a two-day policy meeting, with investors also eyeing testimony from the head of the US Federal Reserve later this week.In Tokyo afternoon trading the greenback rose to 101.40 yen, up from 101.23 yen in New York on Friday, while the euro strengthened to 137.95 yen from 137.78 yen in US trading.The euro was nearly flat against the dollar at $1.3602 ...
Yuan falls on corporate dollar demand, seen capped at 6.2/dollar for now SHANGHAI: China's yuan fell against the dollar on Monday as companies tended to buy dollars in anticipation that the Chinese currency would remain relatively weak in the near term, traders said.Spot yuan stood at 6.2072 per dollar by midday, 0.06 percent weaker than Friday's close also after the People's Bank of China (PBOC) fixed its official midpoint at 6.1485 per dollar, down 0.03 percent from Friday's fix.The yuan opened at 6.2034 per dollar, which traders ...
South Korean won edges up as Yellen remarks awaited SEOUL: The South Korean won edged up against the US dollar on Monday morning as Portugal's bank fears ebbed and corporates sold the dollar, although gains were limited on caution ahead of Federal Reserve Chair Janet Yellen's remarks.The local currency was quoted at 1,018.1 versusthe dollar as of 0318 GMT, up 0.1 percent from Friday's domestic close at 1,019.0.Asian shares edged higher as euro zone banking jitters faded, to be replaced by caution ahead of ...
Won leads Asian losses on Portugal; peso down as central bank cuts c/a estimate SEOUL: The South Korean won led losses among emerging Asian currencies on Friday, and most regional units were set to show weekly declines after problems at a Portuguese bank and disappointing global economic data hurt sentiment.The Philippine peso extended slides after the central bank cut its forecasts for this year's current account and balance of payments.Malaysia's ringgit failed to benefit from the central bank's interest rate rise on Thursday - the first in more than ...
Sri Lanka rupee rises to over 1 year high; state banks limit gain COLOMBO: The Sri Lankan rupee ended at its highest in more than a year on Friday due to inflows from remittances and exporter dollar sales, while state banks bought dollars at a lowered buying rate to curb any sharp appreciation in the local currency. The rupee closed at 130.20/22 per dollar, its highest close since June 26, 2013 and firmer from Thursday's close of 130.23/24. "There are inflows and the state banks lowered the buying ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln