The won gained as much as 0.7% to reach 1,486.20 per dollar, the highest since May 12. It’s the best-performing currency in Asia on Tuesday.
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The South Korean won advanced to its strongest level since May on expectations that dollar inflows from SK Hynix Inc’s American depositary receipts will enter the local currency market.
The won gained as much as 0.7% to reach 1,486.20 per dollar, the highest since May 12. It’s the best-performing currency in Asia on Tuesday.
That surge is fueled by a massive corporate milestone. South Korean memory chipmaker SK Hynix pulled off the largest public listing by a foreign company in US market history as it raised $26.5 billion with its American depositary receipt offering.
