Won Falls to Lowest Point This Year on Interest Rate Freeze

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.

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.