Seoul: The South Korean won slightly weakened against the U.S. dollar on Tuesday, as foreign investors remained net sellers of local stocks. The won was quoted at 1,432.5 won per dollar at 3:30 p.m., marking a decline of 2.7 won from the close of stock trading the previous day.

According to Yonhap News Agency, the won opened at 1,431.8 won per dollar and remained relatively stable, with the dollar showing weakness after the United States and Japan confirmed their joint market intervention last week. Meanwhile, oil prices experienced a rise as U.S. President Donald Trump claimed that discussions with Iran were underway, although Tehran denied any plans for negotiations with Washington.

Foreign investors sold a net 370.5 billion won (US$258.1 million) worth of local stocks during the latest trading session. Despite this, the benchmark Korea Composite Stock Price Index saw an increase of 1.62 percent, closing at 6,358.95.