The exchange rate of the South Korean national currency, the won, against the US dollar has fallen to 1561.5. This is the lowest rate of the won against the dollar since 2009 - during the global financial crisis period.
Continuous selling of Korean stocks by foreign investors and the long-term conflict in the Middle East have increased pressure on the won.
Additionally, the strengthening of the dollar has accelerated the depreciation of the Korean currency. The US employment report released on June 5 shows that labor market conditions remained stronger than expected in May, which has strengthened expectations that the US Federal Reserve System can keep interest rates high for a longer period. This data strengthened the dollar, and the US Dollar Index, which measures the value of the dollar against a basket of 6 major currencies, exceeded the 100 mark for the first time in 2 months./AZERTAC