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Seoul closely monitoring the won’s decline

Seoul closely monitoring the won’s decline

South Korean financial authorities said Thursday they are closely monitoring the recent weakening of the South Korean won. The local currency closed at 1,191.5 won against the U.S. dollar on Thursday, marking a 28-month low against the greenback over deepening trade frictions between the United States and China. The U.S. has raised its import tariffs […]

Korean won sinks to 2-year low on weak Q1 growth

Korean won sinks to 2-year low on weak Q1 growth

South Korea’s won currency fell to a two-year low against the U.S. dollar on Thursday as the nation’s economy unexpectedly contracted in the first quarter and the dollar remained strong globally. The won was quoted at 1,158 won per U.S. dollar on Thursday’s opening, down 7.1 won from the previous session. At one point, the […]

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