S. Korean Won Slid Slightly Against US Dollar

S. Korean Won Slid Slightly Against US DollarIs there any near end to the long running euro-zone debt crisis? Well that’s what every market expert must be pondering as the markets across the world are getting affected by the turn of events in the European Union so often now.

Post the looming threat ahead of a crucial voting for euro zone extended bail out for Greece; the South Korean Won was seen below the U. S. dollar late Thursday. The good news was that despite of all the running crisis, a significant growth in demand from exporters was being absorbed by the market in an open manner.

It was reported that won moved down by 1.2% against the dollar in early trade, though it managed to recover the loss as the stock indexes received profit.

If reports are to be believed, the Korea Composite Stock Price Index, or Kospi, managed to notch up by 2.7% at 1769.29, thereby indicating that the Korean market has managed to seam through troubling times.

Fearing the euro-zone dead lock, Korean government bonds could not do much as investors moved out of the market for the same.

While markets would do its best to settle down the troubling waves, it would be interesting to see how the contentious issue of Greece is being sorted out.