South Korean won falls to 16-year low

According to a reporter in Seoul, when the April 1 session opened, the Korean won was at 1,473.0 won per USD, down 0.1 won from the previous session.

As of 9:30 a.m. the same day (local time), the won continued to fall to 1,474.2 won/USD.

This marked the lowest level since March 13, 2009, when the won was listed at 1,483.5 won per dollar as South Korea struggled with the aftermath of the global financial crisis.

The South Korean currency has been hovering near 1,450 won per dollar since December 2024 amid US tariff warnings and a protracted political crisis in South Korea triggered by President Yoon Suk Yeol's martial law.

The won continued to decline as the Trump administration prepares to announce reciprocal tariffs tomorrow (April 2, US time), while emphasizing that all countries will be targeted.

According to the Annual Report on Foreign Trade Barriers released on March 31, the Office of the United States Trade Representative (USTR) cited South Korea’s “compensatory” defense trade policy, emissions regulations on imported automobiles, and pharmaceutical pricing policies as potential “non-reciprocal” trade practices./.

According to VNA

Source: https://baothanhhoa.vn/dong-won-han-quoc-roi-xuong-muc-thap-nhat-trong-16-nam-244193.htm