Korea: Won weakens further in December
January 18, 2012
By 29 December, the Korean won (KRW) had slipped 0.8% in nominal terms over the previous month and was trading at 1,152 KRW per USD. The December drop followed the 3.1% decline observed in November, when the KRW traded at 1,143 per USD. For the full year 2011, the Korean won fell 1.5% versus the USD. The Korean currency, however, recently strengthened on the back of fresh data suggesting firm domestic demand and a brighter outlook for exports. On 20 January the won traded at 1,137 KRW per USD, which represents a 1.3% appreciation compared to the end of December.