South Korean won closing price against US dollar falls to lowest level in nearly 18 years

On March 16, influenced by the continued rise in international oil prices, the Korean won against the US dollar closed at 1,497.5 won (approximately 6.9 RMB), reaching its lowest point in nearly 18 years.

That day in Seoul’s foreign exchange market, the won against the dollar opened at 1,501 won, down 7.3 won from the previous trading day’s closing price (as of 3:30 PM). It initially rebounded but quickly resumed its downward trend, ultimately closing at 1,497.5 won, down 3.8 won from the previous trading day.