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Market Chatter: SK Hynix's Anticipated ADR Offering-Related Currency Flows Boost Won

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The Korean won appreciated as markets anticipated currency flows from SK Hynix's (KRX:000660) $29 billion American depositary receipts (ADR) offering in the U.S., Bloomberg News reported citing a person familiar with the matter.

The currency reached 1,530.50 per dollar on Friday after gaining 0.5%.

SK Hynix may start using forwards Friday to hedge funds raised from the offering, with plans to utilize part of the proceeds to make investments in Korea, according to the report.

Chipmaker SK Hynix did not immediately respond to' request for a comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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