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Korean Won Posts Highest Appreciation Since Brexit

Written: 2016-10-09 13:14:11Updated: 2016-10-09 13:46:28

Korean Won Posts Highest Appreciation Since Brexit

The Korean currency strengthened the most among major currencies across the world since Britain voted to leave the European Union on June 23.
 
According to the Finance Ministry on Sunday, the won appreciated four-point-21 percent against the United States dollar over the period of three months from June 30 to September 22.
 
The Japanese yen and the euro strengthened one-point-23 percent and zero-point-62 percent against the greenback, respectively.
 
The comparable figure for the Thai baht and the Indian rupee marked one-point-42 percent and one-point-one percent, each.
 
The won’s sharp appreciation is attributed to the fact that the dollar weakened as the United States kept its key interest rate and the yen is strengthening with the Bank of Japan’s further easing measures.

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