The South Korean currency fell to a 17-year low against the U.S. dollar Monday as global oil prices surged amid heightened tensions in the Middle East.
The won was quoted at 1,497.5 per dollar at 3:30 p.m., down 3.8 won from the previous session, marking its weakest level since March 10, 2009, when the won hit 1,511.1 during the global financial crisis.
The won opened at 1,501 per dollar Monday, breaching the significant psychological and technical barrier of the 1,500 won mark for the first time in regular trading hours since March 2009.
The currency later trimmed its losses and fluctuated in the upper 1,490 won range before ending the session with a modest decline.
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