Won Falls to Lowest Point This Year on Interest Rate Freeze

  • By Kim Eun-jung

    February 28, 2023 11:52

    The Korean won plunged W18.2 to W1,323 against the U.S. dollar on Monday, the lowest level so far this year.
    The won took a hit after the Bank of Korea decided to free the benchmark rate last week despite expectations that U.S. interest rates will rise even further.
    An electronic board shows the Korean won closing at 1,323 against the U.S. dollar at KEB Hana Bank headquarters in Seoul on Monday. /Yonhap
    The last time the won fell to over W1,320 against the greenback was on Dec. 7 last year.
    The Korea Composite Stock Price Index also closed down 0.87 percent at 2,402.64 points.
    • Copyright © Chosunilbo & Chosun.com
    Previous Next
    All Headlines Back to Top