Won falls below 1,470 per dollar as Korea's political uncertainty grows

WOO JI-WON
Published
A screen in Hana Bank's trading room in central Seoul shows the won-dollar exchange rate trading above the 1,470 per dollar mark on Friday. [YONHAP]
A screen in Hana Bank's trading room in central Seoul shows the won-dollar exchange rate trading above the 1,470 per dollar mark on Friday.

The Korean won plummeted further on Friday, breaching the 1,470 won per dollar mark amid escalating political turmoil.

The parliament is scheduled to vote on an impeachment motion against acting President Han Duck-soo on Friday afternoon. 

This marks the weakest point for the won since the 2009 financial crisis.

As of 10:04 a.m. Friday, the won stood at 1,475.5 won per dollar, up 6.3 won from Thursday's closing rate. 

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The currency opened at 1,467.5 won against the greenback before surpassing the 1,470 won per dollar threshold at 9:15 a.m., reaching 1,476.5 won mid-trading.

This represents the lowest level in 15 years and nine months, since March 13, 2009, when the won stood at 1,488.0 per dollar.

BY LEE HAY-JUNE, WOO JI-WON [woo.jiwon@joongang.co.kr]

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