The Korean won significantly weakened against the US dollar on Monday, once again approaching the 1,400 mark.
The Korean won significantly weakened against the U.S. dollar on Monday, once again approaching the 1,400 mark, according to The Korea Herald. The won had briefly strengthened to the 1,330 range but quickly gave back those gains, now falling below 1,388, depreciating by nearly 50 won against the dollar in less than two weeks. Analysts believe the won could further breach 1,400 but note that South Korea's current account surplus and dollar selling by exporters will provide a buffer, thus not signaling new instability in itself.
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