The South Korean won fell against the dollar on Monday as concerns over a global credit squeeze prompted investors cut risky assets and as foreign investors continued to sell in the local stock market. The local currency is seen under pressure due to increasing aversion to risk and as foreign investors keep selling Seoul shares.
Although exporters may provide support, dealers said. The won was last quoted at 923.3/3.6 per dollar, compared to its previous closing bid of 922.5 and after having fallen to as low as 926.6.