Won Suffers from Global Economic Growth Concerns
The South Korean won declined today as concerns about global economic slowdown made investors pull their capital away from riskier assets.
The downward revision of economic growth by the International Monetary Fund sent markets into the risk aversion mode that still persists. South Korean assets were even more vulnerable because of the threat of a war with North Korea. The KOSPI Index dropped as much as 1.2 percent to the close at the lowest level since November 22.
USD/KRW rose from 1,121.8450 to 1122.2650 as of 8:42 GMT today.
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Earlier News About the South Korean Won:
- Won Rebounds After Sell-Off (2013-04-16)
- South Korean Won Rises Despite Escalating Political Tension (2013-04-03)
- Won Falls after Friday's Rally (2013-04-01)
- Won Retreats as Tension Between Koreas Rises, Recovers from Losses (2013-03-29)
- South Korean Won Heads to Weekly Decline (2013-03-15)