South Korean won weakens past 1,300 per dollar for first time in 13 years

By: 2 years ago

South Korean won weakens past 1,300 per dollar first time in 13 years

South Korean 10,000 won note is seen on U.S. 100 dollar notes in this picture illustration taken in Seoul, South Korea, December 15, 2015. REUTERS FILE PHOTO

SEOUL — South Korean won fell below a psychological threshold of 1,300 per U.S. dollar for the first time in 13 years, amid global economic recession worries and the dollar’s strength.

The won weakened as much as 0.24% in onshore spot trade to touch the lowest since July 14, 2009, at 1300.4 per dollar soon after the market opened on Thursday.

The won has weakened more than 8% this year, following an 8.6% drop in 2021 that was the fastest annual fall since 2008.