South Korean companies saw their forward exchange net purchases increase in 2014 from a year earlier as the won strengthened against the dollar in the first half of the year, central bank data showed Tuesday.

The net purchases reached $10 billion last year, sharply increasing from $1.6 billion in 2013, according to the data by the Bank of Korea. The amount is smaller than the $24.1 billion posted in 2012.

The on-year rise was attributed to a fall in forward selling in the first half as shipbuilders and heavy industries firms slimmed down their forward selling amid a strengthening won.

Overall, the won depreciated 4 percent against the greenback last year, reversing from a 1.4 percent rise in 2013. The local currency gained 9.7 percent in the cited period, slowing from a 23.6 percent appreciation a year earlier.

The won strengthened to a yearly high of 1,008.5 won against the dollar on July 3, but weakened to 1,099.3 won on Dec. 30 on growing hopes that the U.S. Federal Reserve will move to normalize rates.

The intraday volatility of the won against the dollar slightly dipped last year. The average intraday change in the won versus the dollar slipped to 4.9 won last year, compared with 5.2 won in 2013.

The day-on-day change also dipped to 3.5 won in the 1-year period from 3.7 won, according to the data. (Yonhap)