The monetary unit of South Korea advanced to its top rate in nearly six years on Tuesday against the U.S. dollar amid confidence the nation will disclose data noting its current-account surplus expanded in March, according to Bloomberg.
The nation is preparing to release economic data that analysts and investors say indicates export growth is advancing this month. Confidence is high that exporters will pull back earnings by the end of this month prior to markets closing for holidays on Thursday and early next week.
"With the current-account surplus and exporters selling dollars at the end of the month, there's no reason to bet for a stronger dollar," currency trader Baik Jin Kyu with Nonghyup Bank in Seoul told the news source on Tuesday.
The won rose about 0.3 percent against the greenback on Tuesday after having pushed to its top level since August 2008.
The Business Recorder reports Samsung Electronics Co. Ltd., one of the strongest companies of the nation hosting the globe's fourth-largest economy, reports first-quarter operating profit dropped 3.3 percent to 8.5 trillion won, which equals $8.2 billion.
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