South Korea Says Chipmakers And Shipbuilders Sold Large Amounts Of Dollars In Forward Market

South Korea’s Ministry of Finance said conditions in the country’s foreign-exchange market were improving as major semiconductor manufacturers and shipbuilding companies began selling large amounts of U.S. dollars in the forward market. According to Jin10, the ministry said in a statement that, supported by strong fundamentals such as a record trade surplus, it expected a structural shift in foreign-exchange market supply-and-demand conditions in the second half of the year. On Tuesday, the South Korean won strengthened 0.75% against the U.S. dollar to 1,486.30, its highest level since May 12.