The Korean won further weakened by 12-point-nine won against the greenback on Monday amid market jitters over Russia continuing invasion of Ukraine.
According to the Korea Exchange, the won-dollar exchange rate closed at one-thousand-227-point-one, exceeding one-thousand-220 for the first time since June 2, 2020.
The closing rate on Friday had stood at one-thousand-214-point-two won on Friday, logging the won’s weakest level against the dollar in 21 months.
The weakening of the local currency is attributed to a growing number of investors flocking to safer assets, as well as hikes in international oil prices.
The uptick was also affected by bearish stock market performances. The benchmark KOSPI dove two-point-29 percent to close the day at two-thousand-651-point-31 as foreign investors dumped one-point-18 trillion won in local shares more than they purchased.
Source: KBS World Radio