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

2022.06.23 03:31

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/Kim Hong-Ji/File Photo

SEOUL (Reuters) – 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.

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