경제소식 (Economic News)

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작성자 까마 (106.♡.116.194) 댓글 0건 조회 8회 작성일 21-10-13 17:20

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[KOREAN ECONOMIC NEWS] Good morning everyone I am  Rumi Dhar from Kama Group.
Here I have important KOREAN economic news to share with you which is as mentioned
below.  

The South Korean won weakened past the psychologically important 1,200 per dollar mark for
the first time in 15 months as growing worries about global inflation and expectations of a
tighter US monetary policy spurred equity outflow.

The won on Oct. 12 dropped to as low as 1,200.4 against the dollar in the domestic currency
market, the softest point since July 28, 2020 when the South Korean unit fell to 1,201. It
ended the local market down 0.4% at 1,198.8, also the weakest domestic close since July
24, 2020.

The South Korean unit came under pressure from broad strength in the dollar with the dollar
index up to 94.326 on Oct. 11 from 82.449 early in September. Rising oil prices also hurt the
won.

The Kospi lost 1.35% to close at 2,916.38 as foreign investors sold a net 820 billion won
($685 million) worth of stocks in the country’s main bourse. They have net dumped more
than 1.3 trillion won in total in the first 12 days of the month.

“The break of the 1,200 level in the dollar/won, the imminent tapering and inflationary
pressures maintained the preference for safer assets,” said Mirae Asset Securities analyst Kim
Seok-hwan, referring to the expected US Federal Reserve’s step to scale back asset purchases.



Read more at: https://www.kedglobal.com/newsView/ked202110120012

Kama Group
New Delhi
Have a nice day   

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