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Import, Export Prices Rise in June on Depreciating Korean Won

Written: 2024-07-16 09:02:56Updated: 2024-07-16 09:04:36

Import, Export Prices Rise in June on Depreciating Korean Won

Photo : YONHAP News

The country's import and export prices both rose last month on the won’s depreciation against the U.S. dollar.

According to data from the Bank of Korea(BOK) on Tuesday, the country's export price index marked 132-point-96 in June, rising zero-point-nine percent from a month earlier.

The import price index also rose zero-point-seven percent on-month to hit 142-point-76 in June despite a fall in global oil prices. 

Import prices grew for four straight months since January before falling in May, but rebounded in June. 

The BOK attributed the rise in export and import prices to the depreciation of the local currency, which weakened one-point-one percent against the U.S. dollar last month.

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