The won-dollar exchange rate is displayed alongside the benchmark KOSPI index at a dealing room of Hana Bank in Seoul, Tuesday. Yonhap
The Korean won strengthened sharply against the U.S. dollar to its strongest level in five sessions Tuesday following strong verbal interventions by financial authorities.
The won was quoted at 1,512.1 won per dollar at 3:30 p.m., up 22.9 won from the previous session, marking the highest level since last Monday, when it was quoted at 1,504.3 won.
The local currency gained for the second consecutive session after plunging to 1,539.1 won per dollar on Friday, its weakest level since March 9, 2009.
The won's strength came as financial authorities continued to issue strong warnings against excessive volatility and speculative trading.
