Won Retreats as Tension Between Koreas Rises, Recovers from Losses

  March 29th, 2013 at 20:17

A fan of Korean currency billsThe South Korean won fell today as tension between the country and North Korea are rising. The poor domestic fundamentals did not help the currency either. Yet it has managed to erase its losses as of now

Animosity between South Korea and its northern neighbor was rising after North Korea performed a test of nuclear device last month. Meanwhile, the communist state said that military drills performed by South Korea and the United States increase chances of war breaking out. Political tension hurt the won and economic indicators were not helpful either. Industrial production shrank 0.8 percent in February from the previous month, while analysts have predicted an expansion.

USD/KRW fell from 1,113.5000 to 1,110.5000 as of 20:10 GMT today after rising to 1,115.2250.
Won Retreats as Tension Between Koreas Rises, Recovers from Losses Won Retreats as Tension Between Koreas Rises, Recovers from Losses Reviewed by Sopheap Chhin on 9:36:00 PM Rating: 5

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