By 30 November, the Korean won (KRW) had depreciated 2.9% in nominal terms over the previous month and was trading at 1,143 KRW per USD. The November drop contrasted the 6.1% appreciation observed in October, when the KRW traded at 1,110 KRW per USD. As a consequence of the November reading, the KRW has now depreciated an accumulated 0.7% versus the USD this year although, at the current level, it is still trading 1.5% above the same month last year. The Korean currency continues to weaken on the back of deteriorating prospects for the global economy. During the first half of December the won dropped further, falling to 1,163 KRW per USD by 15 December [NOTE FOR PROOFERS AND EDITORS: consider this as a ?working reference?, I'll update with FRIDAY 16 NOV numbers when available tomorrow] and thus marking a 1.7% depreciation compared to the end of November.
Korea Exchange Rate
Won weakens in November
December 15, 2011
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Korea Economic News
October 13, 2016
At its 13 October monetary policy meeting, the Bank of Korea (BoK) announced that it will hold the base rate constant at a record low of 1.25%, which was largely in line with market expectations.
October 5, 2016
In September, consumer prices rose 0.6% over the previous month, which contrasted the 0.1% decrease in August and overshot the 0.2% increase the markets had expected.
October 3, 2016
Korea’s Customs Services reported that exports totaled USD 40.9 billion in September, which represented a 5.9% contraction over the USD 43.4 billion recorded in the same month last year.
September 30, 2016
The forward-looking business confidence indicator (BSI) for the manufacturing sector produced by the Bank of Korea (BoK) rose from 74 points in September to 75 points in October.
September 30, 2016
In August, industrial production accelerated and expanded 2.3% year-on-year, which was up from both the 1.6% increase registered in July and the 1.6% rise the markets had expected.