Korea: Korean won depreciates further
March 23, 2012
On 23 March, the Korean won (KRW) was trading at 1,135 per USD, which was 0.6% weaker than on the same day of the previous month. The depreciation came in amid the recent spike in oil prices, as well as risks of slowing global economic activity, which sparked worries about the strength of the recovery. The reading contrasts the 0.4% gain recorded in February, which came in on the back of data suggesting firm domestic demand and a brighter outlook for exports. In the year to date period, the won has strengthened 1.4% versus the USD.