(Bloomberg) -- South Korea's won headed for a weekly decline as a central bank official said the nation may post a current-account deficit this month after the March shortfall 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 nation than entering. The deficit is widening as dividend payments increase to offshore investors, who owned 37 percent of 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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