Won-Yen F/X Rate Falls to Nine-Year Low
The Korean won has hit its lowest level versus the Japanese yen in nine years.
In Seoul’s foreign exchange market on Wednesday, the Korean currency closed at 795-point-three won against the yen, a post-1997 low.
But it gained three-point-four won versus the U.S. dollar, rising to 935-point-two, its strongest showing in six months.
Stocks closed slightly lower, as the Korean Composite Stock Price Index lost seven-point-37 points to 13-hundred-80-point-zero-seven on rumors that the government might raise interest rates to curb rising property prices.
The tech-heavy Kosdaq index also shed four-point-zero-eight points to 596-point-61.
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