Korean Won Falls to 13-Year Low on Fears of Slower Global Growth
A customer holds a South Korean 1,000 Won banknote at a vegetable stall in Mangwon Market in Seoul.
Photographer: SeongJoon Cho/BloombergThis article is for subscribers only.
South Korea’s won fell to the weakest level in 13 years on concern aggressive rate hikes in the US will damage the world’s largest economy and slow global growth.
The won fell as much as 0.3% to 1,297.60 per dollar, the lowest since July 2009. The currency is the worst performer in emerging Asia this year with a loss of more than 8%.