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Won-Dollar Rate Posts Largest Fall Among Major World Currencies

Written: 2017-03-02 13:37:02Updated: 2017-03-02 15:09:34

Won-Dollar Rate Posts Largest Fall Among Major World Currencies

The South Korean won has gained more than six percent against the U.S. dollar over the past two months.
 
According to financial sources on Thursday, the won-dollar rate dropped six-point-one percent to one-thousand-113-point-seven won on February 27th, compared to late last year. It is the biggest fall among major currencies of the world.
 
During the same period, the Russian ruble strengthened some five percent against the dollar while the Taiwanese dollar strengthened four-point-nine percent. The currencies of Brazil and Japan appreciated four-point-four percent and three-point-seven percent against the greenback, respectively.
 
By contrast, the euro lost zero-point-six percent and the Australian dollar six-point-four percent against the U.S. dollar.
 
Attention is focused on whether the U.S. Federal Reserve will make the dollar stronger again by raising its benchmark interest rate at its Federal Open Market Committee meeting slated for mid-March. 
 
The dollar has remained weaker for some two months, with President Donald Trump's opposition to a surging U.S. currency. 

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