BUSINESS

Korean won sharply down vs dollar amid increased uncertainty

By Yonhap
  • Published : Aug 5, 2019 - 11:09
  • Updated : Aug 5, 2019 - 11:09

The South Korean won traded at a three-year low against the US dollar on Monday on concerns that the escalating trade row between the United States and China, and more recently South Korea's own conflict with Japan, could further cast a pall on its economy.


The won opened at 1,203.60 on Monday (Yonhap)

The won was changing hands at 1,212.30 to the greenback as of 10:56 a.m., down 14.3 won from the previous session's close, after easily breaching the psychologically significant level of 1,200 won.

After opening at 1,203.60, the local currency expanded its loss against the dollar on news that the Chinese yuan fell to the lowest point on record against the greenback on growing worries that the world's two largest economies' sparring over trade may continue longer than expected.

At one point, the won fell to as low as 1,218.30 won to the dollar. (Yonhap)



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