Markets

South Korea won soars to highest level vs dollar in more than 2 years

Published October 24, 2013 Updated October 24, 2013 06:32am

1 min

By Shoaib Ur Rehman

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SEOUL: The South Korean won rose to its highest level in more than two years against the dollar on Thursday, building on its recent gains as soft US jobs data fueled bets that the Federal reserve won't taper its stimulus until next year.

The local currency traded as high as 1,054.3 against the dollar, the strongest since Aug. 2, 2011, and was quoted at 1,054.3 as of 0518 GMT.

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