The Korean won strengthened against the U.S. dollar at the start of trading Monday morning, before losing ground to finish the day above the one-thousand-310-won mark. 


The won-dollar rate opened on the Seoul foreign exchange at one-thousand-302 won against the greenback, down zero-point-two won from the previous session's closing price of one-thousand-302-point-two won.

The local currency made slight gains amid more stable market sentiment as concerns over a liquidity crisis began to ease.

This comes as the U.S. Federal Reserve, the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank and the Swiss National Bank agreed to increase the frequency of the dollar swap maturity from once a week to once a day.

The earlier decision by Switzerland's largest financial company, UBS, to acquire troubled bank Credit Suisse for about three-point-23 billion dollars also helped improve investor sentiment.