South Korean Won Suffers from Europe’s Troubles

The South Korean won, together with other Asian currencies, fell today as Italy became yet another country of the European Union threatened to be engulfed by the debt crisis.



Standard & Poor’s and Moody’s Investors Service voiced concerns about Italy’s ability to finance its debt. The European Central Bank said, according to the German newspaper Die Welt, said that to help Italy the EU would require to double its bailout fund to €1.5 trillion. Investors decreased their holdings of Korean stocks for the first time this month.

USD/KRW advanced from 1,057.85 to 1,066.60 today as of 14:10 GMT.

If you have any questions, comments or opinions regarding the South Korean Won, feel free to post them using the commentary form below.

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9:05 AM | 0 comments

Higher South Korea’s Inflation Leads to Gains for Won

The South Korean won climbed today to the highest level in almost three years, heading to the second weekly gain, after the government report showed that inflation grew with faster pace last month.


South Korea’s consumer prices increased 4.4 percent in June from a year ago, compared to the 4.1 percent increase in May and the central bank’s 4 percent target. Exports rose 14.5 percent, leading to the trade surplus of $3.3 billion. The won also gained as Greece accepted steps needed to receive the bailout.

USD/KRW traded at 1,066.65 as of 10:28 GMT today after opening at 1,067.10 and falling as low as 1,063.75.

If you have any questions, comments or opinions regarding the South Korean Won, feel free to post them using the commentary form below.

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9:40 AM | 0 comments

Higher South Korea’s Inflation Leads to Gains for Won

The South Korean won climbed today to the highest level in almost three years, heading to the second weekly gain, after the government report showed that inflation grew with faster pace last month.


South Korea’s consumer prices increased 4.4 percent in June from a year ago, compared to the 4.1 percent increase in May and the central bank’s 4 percent target. Exports rose 14.5 percent, leading to the trade surplus of $3.3 billion. The won also gained as Greece accepted steps needed to receive the bailout.

USD/KRW traded at 1,066.65 as of 10:28 GMT today after opening at 1,067.10 and falling as low as 1,063.75.

If you have any questions, comments or opinions regarding the South Korean Won, feel free to post them using the commentary form below.

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9:40 AM | 0 comments

Korea’s Won Jumps on Inflation Forecast

The South Korean won climbed today as outlook for higher consumer prices growth compared to the previous estimates increased appeal of the nation’s assets.


According to the statement of the presidential office, the growth of the consumer-price inflation will reach 4 percent this year, compared to the official target of 3 percent. It looks like the Asian nations fare much better than western countries these days and that attracts investors to the region. Currently, markets in the ”risk-on mode” and such sentiment also help Asian currencies, including the won.

USD/KRW fell to 1,077.00 from 1,083.30 as of 13:00 GMT today.

If you have any questions, comments or opinions regarding the South Korean Won, feel free to post them using the commentary form below.

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10:17 AM | 0 comments