SEOUL: The South Korean won slid marginally on Tuesday as rising geopolitical tension in Ukraine prompted further selling of riskier assets, but losses were limited as exporters unloaded dollars.
The won was quoted at 1,071.5 to the dollar as of 0242 GMT, down 0.1 percent from Monday's close of 1,070.2.
Amid escalating military tension between Russian and Ukrainian forces in Crimea, Russian financial markets suffered heavily, stirring concerns about emerging market assets.
Investors were also wary about an expected spike in dollar demand as South Korea could start making payments to Iran for crude oil imports early this month.
"Considering the external geopolitical unrest and possible Iranian payments, it is more likely for further strength in the dollar," one currency dealer said.
The South Korean finance ministry said on Tuesday the latest global turmoil has had a limited effect on the economy and financial markets so far.
The benchmark Korea Composite Stock Price Index eased 0.3 percent on Tuesday to 1,958.99 points, while March futures on three-year treasury bonds ticked down 0.02 points at 105.78.
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