The South Korean won traded at a fresh two-year low against the U.S. dollar on Tuesday as market players are increasingly paying attention to a potential rate hike in the U.S. after the Greek debt issue fizzled out, dealers said.
The local currency was changing hands at 1,158.40 at 9:32 a.m., down 6.30 won from the previous session's close.
Dealers said foreign investors are pulling their money out of the local stock market as Federal Reserve Chair Janet Yellen repeated her stance that an increase in U.S. borrowing costs will be made this year.
Also, a slump in the Chinese stock market fueled foreign sell-offs in some emerging markets, they said.
But any sharp devaluation in the local currency may be limited as its recent drop was excessive, dealers said.
original source: http://english.yonhapnews.co.kr/news/2015/07/21/0200000000AEN20150721002100320.html