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S. Korean won may average 1,124 per U.S. dollar in H1 of 2010

All Headlines 11:17 October 26, 2009

SEOUL, Oct. 26 (Yonhap) -- South Korea's currency is expected to continue to strengthen against the U.S. dollar in the first half of next year on the back of the dollar's weakness, a private survey showed Monday.

The won is likely to average 1,124 per the dollar for the January-June period in 2010, the Federation of Korean Industries said in a survey of 108 analysts and foreign-exchange officials at major companies.

A strong won has raised concerns about the profitability and price competitiveness of local exporters.

The won may extend its gains in the first half of next year because of the dollar's weakness, South Korea's current account surplus and net selling of local stocks by foreign investors, the federation said in a statement.

In the third quarter of this year, the local currency averaged 1,239.74 per the dollar, according to the federation.

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