The South Korean won strengthened today against the US dollar over lowered concerns for economic growth, which has boosted the outlook for the South Korean economy. The South Korean GDP grew 1.4 percent during the second quarter of the year, almost near the prediction of 1.5 percent. The IMF, on the stable growth, has increased its growth forecast to 6.1 percent. Additionally, the robust fundamentals have spurred speculations that the Bank of Korea may increase the interest rates during the next meeting of the policy makers.
USD/KRW tumbled to 1,174.30 at about 12:06 GMT today after opening at 1,180.10.