The South Korean currency weakened past one-thouand-470 won against the U.S. dollar on Friday, hitting its lowest point since the 2009 global financial crisis.

In the Seoul foreign exchange, the local currency was trading at one-thousand-475-point-five won against the dollar as of 9:45 a.m., down ten-point-seven won from Thursday’s closing spot rate.

The local currency opened at one-thousand-467-point-five won per dollar, down two-point-seven won from the previous session.

The rate surpassed the one-thouand-470 won threshold at 9:15 a.m. and surged to one-thouand-476-point-six won at one point, the highest level in nearly 16 years since March 16 in 2009, when the rate hit one-thouand-488 won. 

The local currency reached one-thousand-470 won at one point during the overnight trading.