SEOUL (Reuters) - South Korea’s central bank was suspected of selling dollars to slow the won’s fall towards the close of onshore trade, multiple traders said on Friday.
The South Korean won ended at a five-week low on Friday as investors anticipated the dollar to remain strong following jobs data that could increase the chance of another U.S. interest rate hike before the end of this year.
The won closed at 1,134.1 to the dollar at the conclusion of onshore trade, down 0.9 percent compared to Thursday’s close.
The currency touched as low as 1,138.2 per dollar.
Reporting by Yena Park; Writing by Cynthia Kim; Editing by Richard Borsuk