The won-dollar exchange rate surpassed the one-thousand-380 won mark for the first time in nearly 13 and a half years on Wednesday.

On the Seoul foreign exchange, the local currency traded at one-thousand-380-point-three won against the dollar at around 9:09 a.m, exceeding the mark for the first time in 13 years and five months.

Since topping the one-thousand-300 won mark on June 23, the rate has climbed 40 won through August 23.

The rate picked up pace last week to top one-thousand-350 and one-thousand-360 won before exceeding one-thousand-370 won on Monday.

The weakening of the Chinese yuan and the strengthening of the dollar driven by the U.S. Federal Reserve’s expected key rate hike for later this month are considered primary contributors to the continuous slide of the local currency among other factors.