The South Korean won notched its top weekly gains in almost five months against the world's reserve currency in the aftermath of the central bank raising growth projections, Bloomberg reports.
Bank of Korea policy makers preserved borrowing costs at 2.5 percent during the Thursday policy meeting and they remain confident that the U.S. Federal Reserve will maintain the status of economy-spurring measures in the coming months.
This week's advance for the won is about 1.6 percent, the largest gain since mid-February 2013, Bloomberg reports. The won was slipping on Friday, nothing losses of roughly 0.2 percent.
South Korean officials are probing international investments in oil and gas, with an emphasis on the past 60 months, according to Reuters. Persistent questions are swirling regarding how profitable those investments have been to the nation, government and industry sources told the publication.
"We are reviewing what was invested in the past five years by state-run firms, and those in losses and low profits need restructuring … although that does not mean that we will sell immediately," one official with the South Korean energy ministry told the news source on Friday.
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