won

Latest news and articles about won from NEX English

South Korean stocks drop 3% as won hits 17-year low

South Korean stocks fell by 3% on Monday, with the Kospi index closing down by 161.57 points at 5,277.30. The won also depreciated by 0.5%, reaching 1,518.7 won per dollar, marking its lowest level since March 2009 amid rising geopolitical tensions.

South Korean won hits lowest level in 17 years amid tensions

The South Korean currency, the won, has dropped to its lowest point against the US dollar in 17 years. This decline is attributed to geopolitical tensions arising from the Iran crisis, which has heightened investor concerns and increased demand for hard currencies.