South Korean won under pressure from yen, exporters

SEOUL: The South Korean won fell slightly against the dollar by midday on Wednesday, weighed down by the yen's recent decline against the dollar and slow month-end dollar sales by exporters.

The won was quoted at 1,061.4 per dollar at 0245 GMT, a touch down from Tuesday's domestic close of 1,059.9.

"Dollar/yen's recent rises put a strong floor for the dollar/won at around 1,060," said a domestic bank dealer in Seoul, referring to the yen's sharp falls recently.

South Korean export companies tend to offload the bulk of their sales revenue received in dollars during the month over the last several days, but traders have said their dollar sales this time were relatively weak.