(Bloomberg) -- South Korea's won dropped for the first week this month as a central bank official said the nation may post another current-account deficit following the March shortfall, which was the widest in almost a year.
The currency is under pressure to weaken as a growing deficit indicates more money is flowing out from the country than coming in. The deficit is widening on rising dividend payments to offshore investors, who owned 37 percent of the shares in the benchmark Kospi index as of April 25, according to the stock exchange. Payments usually take place in March and April, increasing demand to convert won into dollars.
Read more at Bloomberg Currencies News
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