The monthly export prices fell to a nine-month low in October on the back of a stronger won against the greenback, the South Korean central bank said on Tuesday.
The October export price index fell to 82.12, down 3.5 percent from a month ago, and down 6.2 percent from a year ago, Bank of Korea data revealed. This is the sharpest fall since January with 4.3 percent.
The October import price index also fell to 78.42, down 3 percent from a month ago, posting the fastest monthly drop since January’s 7.5 percent.
The BOK attributed the large fall of export-import prices to the falling average won-dollar exchange rate, which fell to 1,148.18 won in October, down 3.1 percent from a month ago at 1,184.76 won.