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

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. A representative from SK Hynix, in an emailed response to ' request for comment, said the chipmaker is "considering various options, but cannot confirm specific details at this time."