Korean won rises

South Korean won rose for a sixth day, which is a record high for the nations reserve

The currency has increased four-month high after the central bank report showed that the reserves increased by $ 4.4 billion to $ 289.8 billion last month. You may find that cover three months of imports, or to regulate short-term debts, and so forth are sufficient to overcome any crisis, the Ministry of Finance said today the report, adding that he was ready to intervene in the currency market to fight volatility.

"Increase in foreign exchange reserves means that there are more dollars coming in," said Yun Se Min, the Seoul-based currency trader at Busan Bank. "It means more dollars are exchanged for the win, which is a factor that strengthens the local currency.

That won climbed 0.5 percent to 1,124.35 per dollar as of Seoul, 9:26 am, according to data compiled by Bloomberg. It was earlier referred to 1,123.05, the strongest level since May 5, and the best performer in Asia last three months, with 9.3 percent down payment.