Won rises on exporter demand

The South Korean won rose against the dollar on Friday as exporters chased the local currency for settlements before the end of the first half and on foreigners' ongoing stock purchases. The won also received support after the central bank agreed with the Federal Reserve to expand a $30 billion currency swap deal.
The local unit is expected to rise further next week on higher risk appetite, especially after the Fed appeared to confirm this week the US central bank will keep interest rates low for a while, analysts said. Exporter deals before the end of the first half are likely to grow early next week, providing the currency with more support, they added.