S.Korea's currency surges for 2 days on eased risk-averse sentiment

South Korea's currency surged versus the U.S. dollar for two straight days on Thursday due to eased risk-averse sentiment caused by rebounding global oil prices.

The won/dollar exchange rate settled at 1,214.6 won per U.S. dollar, down 12.9 won from Wednesday's close. The exchange rate decline means the local currency's appreciation to the dollar.

The won's ascent for two days in a row came as global crude oil prices advanced, alleviating sentiment to avoid risky assets.

West Texas Intermediate (WTI) for April delivery ended at 34.66 dollars a barrel in New York overnight, up 0.76 percent, or 0.26 U.S. dollars, from the previous close.

Foreigners raised their holdings of domestic stocks by nearly 5,000 billion won (411 million U.S. dollars), putting an upward pressure on the local currency to the greenback.

Foreign investors bought more than 1 trillion won worth of local stocks in the past five trading days. The benchmark Kospi index advanced 0.55 percent on Thursday.

Australia's central bank reportedly purchased South Korea's government bonds, helping the South Korean currency rise versus the dollar. Enditem