South Korea’s currency has averaged above 1,520 won per US dollar in June, the highest level since February 1998, extending a period of currency weakness associated with times of crisis. Electronic boards at Hana Bank’s dealing room in central Seoul display the won-dollar exchange rate of 1,530.30 on Friday. (Yonhap) According to the Bank of Korea’s Economic Statistics System, the won-dollar exchange rate averaged 1,521.4 won in daytime trading through June 19.Compared with historical monthly averages, that is the highest level since February 1998, when the exchange rate averaged 1,626.7 won during the Asian financial crisis. It is about 70 won above the rate of 1,453.3 won recorded in March 2009 during the global financial crisis.The won has also remained at elevated levels for an extended period. Through June 19, it had traded above 1,500 won for 23 consecutive sessions, the longest stretch since the 49-session run between December 1997 and March 1998.Other measures suggest the weakness extends beyond the headline number.Data from the Bank for International Settlements showed South Korea’s real effective exchange rate index fell to 84.75 in May, its lowest level since March 2009. The measure reflects a currency’s purchasing power relative to trading partners after accounting for inflation.
Won-dollar rate averages 1,520 through June, reaching crisis-era levels
South Korea’s currency has averaged above 1,520 won per US dollar in June, the highest level since February 1998, extending a period of currency weakness associ
TL;DRAI
South Korea's won averaged 1,521.4 per USD in June, marking crisis-era weakness unseen since the 1998 Asian financial collapse. Currency deterioration signals macroeconomic stress with implications for regional tech supply chains and venture funding sentiment.
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