South Korea won down as dollar benefits from intervention concerns

SEOUL: The South Korean won fell on Wednesday, weighed by dollar-buying by offshore investors and local importers amid concerns about further interventions by local authorities to slow the won's rise.

The local currency was quoted at 1,086.5 against the dollar at the end of onshore trade, compared with Tuesday's domestic close of 1,084.1 - marking the first daily decline for the won in four sessions. Local authorities were suspected to have intervened on Tuesday to prop up the dollar after the won's sharp gains in recent sessions.