October 20, 2021
Economy

Won-dollar exchange rate close to the 1,200 mark : The DONG-A ILBO

Stock and bond prices as well as Korean won against dollar fell due to multiple unfavorable factors in the market. The benchmark Korea Composite Stock Price Index (KOSPI) plunged nearly 2 percent, slipping below the 3,000 mark and won-dollar exchange rate rose as high as 1,190 in 14 months.

Concerns over the possibility of a “perfect storm” hitting the financial market are rising due to overlapping structural factors that cannot be resolved in the short term, including disruptions in the global supply chain, fears of inflation accelerated by a rise in raw material prices, and concerns about an economic slowdown.

According to the Korea Exchange (KRX) on Wednesday, KOSPI fell 53.86 points, or 1.82 percent, from the previous day to close at 2,908.31. This is its lowest level of the year, even lower than that of Jan. 4 (2,944.45), the opening day of 2021. Following a fall below the…

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