Sharp won gain triggers $100 bill sellout at bank branch

A bank branch reported that $100 bills had sold out, with some investors buying them on expectations of a reversal in the recent sharp appreciation of the Korean won against the U.S. dollar, market watchers said Friday. Some say the incident is indicative of lingering skepticism over whether the foreign exchange (FX) authorities can stabilize the currency. It comes amid a lack of measures to fundamentally tackle structural issues dragging down the value of the Korean currency in the context of the receding power of the global reserve currency. According to a Hana Bank branch in Gangnam, southern Seoul, it ran out of $100 bills late Wednesday. The news made headlines after it posted a notice informing customers that U.S. currency was unavailable. The lender said the shortage was due to timing issues, adding that requests for additional dollar bills from headquarters had not been made in time. However, the episode fanned expectations among retail investors that strong demand for dollars would continue, with many of them seeking to buy the U.S. currency during what they consider a short-live