(Bloomberg) -- South Korea's won headed for a weekly decline as a central bank official said the nation may post a current account deficit in April after the March shortfall was the widest in almost a year.
The currency faces pressure to weaken as a growing deficit indicates more money is flowing out from the nation. The gap widened on increased dividend payments to offshore investors, who owned 37 percent of shares on the Kospi equities index as of April 25. The payments usually happen in March and April, increasing demand to convert won into dollars.
Read more at Bloomberg Currencies News
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