SEOUL: The South Korean won rose in early domestic trade on Monday, tracking gains in the local share market as well as the dollar's fall against the Japanese yen.
The local currency was quoted at 1,118.9 against the dollar as of 0235 GMT, compared with Friday's domestic close of 1,121.7.
Dealers said the won's gains reflected improved appetite for Korean equities, but added that the dollar was receiving firm support around 1,118 against the won.
"This level saw some support last week and is holding pretty well today," one foreign bank dealer said. "There is some dollar demand from importers and there isn't much movement from offshore players, so the market looks pretty quiet."
The dealer added that exporters were spotted selling dollars whenever the currency rose to 1,190 against the won, keeping the market locked in a narrow band as investors wait for fresh cues.
The benchmark Korea Composite Stock Price Index was up 0.6 percent at 1,883.26.
September futures on three-year treasury bonds was up 0.02 points at 105.82.
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