Park calls for expanding ties with U.S. in energy, healthcare

Korean won sharply weakens on emerging market woes

kh close

 

Published : 2014-02-03 13:27
Updated : 2014-02-03 13:27

The South Korean currency sharply weakened against the U.S. dollar on Monday as the Federal Reserve's quantitative easing sparked concerns about capital outflows from emerging markets, dealers said.

The local currency was trading at 1,081.55 won per the greenback as of 10:52 a.m., down 11.15 won from the previous session.

The won fell as low as 1,082.30 per the dollar at one point after the market opened.

The Fed said last week it will stay on course by reducing monthly asset purchases to $65 billion starting this month, citing the improvement in the U.S. economy.

In December, the Fed decided to start tapering the quantitative easing from $85 billion to $75 billion in January.

The Fed's move has sparked concerns about capital outflows from emerging markets which are vulnerable to volatile cross-border capital flows. (Yonhap News)

 

Photo News

티아라 효민 멋진 뒤태에 남심 흔들

섹시백 선발대회 몸매 뽐내는 참가자들

카자흐 女배구선수 초특급 미모, 전세계 ‘깜짝’