The South Korean won has reached its lowest point in over 13 years amid global investors’ continued flight to the dollar. 

The local currency weakened 14 won against the dollar, ending the day at one-thousand-326-point-one won.

It is the won’s lowest level since hitting one-thousand-340-point-seven on April 29 of 2009. 

The rate climbed to the one-thousand-320 won range just seven minutes after the market opened before jumping further to one-thousand-322-point-four won, breaking the previous intraday high posted on Tuesday.

The market’s preference for the U.S. dollar has become stronger amid the growing possibility that the Federal Reserve will accelerate hikes to curb inflation.

Meanwhile, the benchmark Korea Composite Stock Price Index(KOSPI) rose eight-point-66 points, or zero-point-37 percent, on Friday, closing the week at two-thousand-330-point-98.

The tech-heavy KOSDAQ fell however, losing three-point-69 points, or zero-point-48 percent, to close at 762-point-39.