South Korean Won Heads to Weekly Decline

 March 15th, 2013 at 12:46
3 Korean coins and 2 banknotesThe South Korean won fell today, heading to a weekly decline, as the central bank voiced worries about slowing economic growth, while politicians were concerned about the negative impact of depreciating yen.

The Bank of Korea left its main interest rate unchanged yesterday and predicted “the economy to have sustained a weak level of growth”. South Korean officials said that the huge fall of the Japanese yen is hurting Korea’s economy. The won fell amid such events, heading a biggest weekly drop in six weeks.

USD/KRW rose from 1,108.2999 to 1111.2800 as of 12:45 GMT today and its daily high was at 1,114.4050.

South Korean Won Heads to Weekly Decline South Korean Won Heads to Weekly Decline Reviewed by Sopheap Chhin on 8:16:00 AM Rating: 5

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