South Korean stocks and its currency weakened on Friday amid investor concerns over belt-tightening in the U.S. and the European Central Bank’s(ECB) dovish interest rate decision. 

On the foreign exchange, the local currency hit a seven-month low. It weakened 14-point-six won against the dollar as the greenback rallied, ending the session at one-thousand-97-point-seven won.   

The benchmark Korea Composite Stock Price Index(KOSPI) fell 19-point-44 points, or point-80 percent, to close the day at a three-month low of two-thousand-404-point-04.   

In a statement on Thursday, the ECB said that it is set to maintain interest rates at record lows at least through the summer of 2019 and end its quantitative easing program in December. The sharp sell-off in the euro led to the strengthening of the dollar.   

Meanwhile, the tech-heavy KOSDAQ strengthened, gaining one-point-66 points, or point-19 percent, closing at 866-point-22.