SEOUL, April 22 (Reuters) - Offshore investors in non-deliverable forward currency deals net sold the biggest amount of Korean won against the dollar in 18 months over March, central bank data showed on Monday.
Investors sold a net $5.56 billion worth of the South Korean currency against the dollar during March in non-deliverable forward trading, the most since $13.55 billion of net selling in September 2011. (Losses or gains in an NDF contract are cash settled without a delivery of foreign currency.)
March was the fourth consecutive month of net selling won against the dollar, reflecting investors' bearish view on the currency due to heightened tension with North Korea and weakened earnings prospects for South Korean firms.
In the spot market, the won fell 2.5 percent in March against the dollar and is trading down about 1 percent so far this month.
(Reporting by Choonsik Yoo; Editing by Eric Meijer) Keywords: KOREA ECONOMY/CURRENCY
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