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Won Weaker Despite Robust Export Data


The won is weaker, USD/KRW has ground higher through the session, last up 3.85 at 1124.70. Data earlier in the session showed exports rose 24.8% Y/Yin the first 10 days of April as shipments of chips and autos remained robust amid an economic recovery from the pandemic. Imports increased 14.8%, resulting in a trade deficit of $1.7 billion in the period. By sector, outbound shipments of memory chips, a key export item, rose 24.8% Y/Y while autos gained 29.8%.

  • South Korea reported 587 daily new coronavirus cases, back below 600 for the first time in six days Monday partly due to fewer tests over the weekend, amid looming concerns over the fourth wave of the pandemic.

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