Exchange rates are displayed at a currency exchange booth in Myeong-dong, Seoul, Friday. Yonhap
The Korean won sharply strengthened against the U.S. dollar Friday, buoyed by net purchases by foreign investors in local stocks after hitting a nine-month high on suspected market-smoothing operations.
The won was quoted at 1,424 won per dollar at 3:30 p.m., up 13.4 won from the day before.
The won was traded at 1,418 won per dollar as of around 6 a.m., marking the strongest level since Oct. 20 last year.
Overnight, the won had advanced to as high as 1,419 won per dollar, with traders speculating that authorities conducted market-smoothing operations.
