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S. Korea's Won Hits 13-Year Low Against U.S. Dollar

Written: 2022-09-02 16:24:14Updated: 2022-09-02 16:49:20

S. Korea's Won Hits 13-Year Low Against U.S. Dollar

Photo : YONHAP News

The South Korean won weakened beyond one-thousand-360 against the U.S. greenback for the first time in 13 years.

The local currency ended at one-thousand-362-point-six won against the U.S. dollar, up by seven-point-seven won from the previous close.

It marked its weakest since April 2009 during the global financial crisis. 

This comes as the U.S. Federal Reserve maintains a hawkish stance of tightening its monetary policy while investors are also concerned about a slowdown in China's economy.

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