Der südkoreanische Won fällt gegenüber dem US-Dollar auf den schwächsten Stand seit 2009

**South Korean Won Falls to Weakest Level Against US Dollar Since 2009**

* The Korean won closed at 1,456.4 against the US dollar, the weakest since March 2009.
* The exchange rate has risen for eight consecutive trading days.
* Domestic political instability and hawkish US monetary policy are key factors.

The South Korean won has depreciated to its lowest level against the US dollar since the global financial crisis of 2009. On the 24th, the Seoul foreign exchange market reported a closing exchange rate of 1,456.4 won per dollar, an increase of 4.4 won from the previous day. This marks the highest closing rate since March 13, 2009, when it reached 1,483.5 won.

The exchange rate has been on an upward trajectory for eight consecutive trading days since the 13th. After fluctuating around the 1,400 won level, the rate surged past 1,430 won following the emergency declaration on December 3rd and has now broken through the 1,450 won threshold this week.

**Key Factors Influencing the Exchange Rate:**

* **Domestic Political Instability:** Ongoing political uncertainties within South Korea are undermining investor confidence, contributing to the won’s depreciation.
* **Hawkish US Monetary Policy:** The December Federal Open Market Committee (FOMC) meeting resulted in more aggressive policy stances than anticipated, boosting the US dollar’s value globally.
* **Global Economic Concerns:** Broader economic issues, including China’s economic stimulus credibility, are affecting currency valuations.

Market experts suggest that unless the upward pressure on the dollar eases, reversing the direction of the won/dollar exchange rate will be challenging. Lee Joo-won, an analyst at Daishin Securities, commented, “In the short term, uncertainties in US monetary policy will lead to dollar strength. Even if this is resolved, domestic political uncertainties need to be reduced and confidence in China’s economic stimulus restored for the won/dollar exchange rate to turn downward.”

I’m leaving in January so I have to convert my pension and severance to USD and I just know it’ll get even worse by then. This sucks so much

So that means cheap vacation in Korea?