Dollar-to-won exchange rate falls below 1,100

The Korean won has been sharply strengtheningagainst the greenback.

The exchange rate is currently under eleven-hundredwon to the dollar.

For more on what contributed to the localcurrency closing at the highest level in more than a year,.

here's Kim Hye-sung.

The Korean won strengthened past 1,100 againstthe U.

S.

dollar for the first time in more than a year, closing at one-thousand-97-point-fiveFriday.

It has appreciated nearly nine percent againstthe greenback since the start of 2017, including a four percent rise in the last three months.

Thanks to easing geopolitical tensions and strong economic fundamentals.

(Korean)-"Solid exports growth led to a current account surplus, meaning more U.

S.

dollars cominginto the country.

Second, the Bank of Korea is expected to raiseinterest rates soon, leading to a stronger won.

" In addition, a new currency swap deal signedbetween Korea and Canada on Wednesday also played a part in driving up demand for thelocal currency.

Korea's real GDP expanded one-point-four percenton-quarter in the third quarter, nearly double market expectations.

Most experts say that if the economy keepsgrowing at the current pace, the won will continue to appreciate.

But a stronger won means more pressure forKorea's exporters, as it raises the prices of goods sold abroad.

A Korean central bank official said Fridaythe won has appreciated quickly in a short time and that the foreign-exchange authorityis closely monitoring the markets.

Kim Hyesung, Arirang News.

Source: Youtube

Dollar-to-won exchange rate falls below 1,100

원•달러 환율 '1100원' 무너져
The Korean won has been sharply strengthening against the greenback.
The exchange rate is currently under eleven-hundred won to the dollar.
For more on what contributed to the local currency closing at the highest level in more than a year,... here's Kim Hye-sung.

The Korean won strengthened past 1,100 against the U.S. dollar for the first time in more than a year, closing at one-thousand-97-point-five Friday.
It has appreciated nearly nine percent against the greenback since the start of 2017, including a four percent rise in the last three months... thanks to easing geopolitical tensions and strong economic fundamentals.

(Korean)-
"Solid exports growth led to a current account surplus, meaning more U.S. dollars coming into the country. Second, the Bank of Korea is expected to raise interest rates soon, leading to a stronger won."

In addition, a new currency swap deal signed between Korea and Canada on Wednesday also played a part in driving up demand for the local currency.
Korea's real GDP expanded one-point-four percent on-quarter in the third quarter, nearly double market expectations.
Most experts say that if the economy keeps growing at the current pace, the won will continue to appreciate.
But a stronger won means more pressure for Korea's exporters, as it raises the prices of goods sold abroad.
A Korean central bank official said Friday the won has appreciated quickly in a short time and that the foreign-exchange authority is closely monitoring the markets.
Kim Hyesung, Arirang News.




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