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Won Rises as SK Hynix Reportedly Sells Dollars in Local Forex Market

On July 14, according to a trader familiar with the transactions and a government official, the won rose as SK Hynix sold dollars in the local forex market. The dollar-won exchange rate fell 0.3% to 1,492.95, after having dropped as much as 0.7% to 1,486.20, a two-month low. Sources said Hanwha Ocean sold dollar forward contracts on Friday and Monday but has not sold any since Tuesday.

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