Money
Korean Won Strengthens Against Japanese Yen to Lowest Rate Since 2008
· Reviewed by the editor
The Korean won traded at 843.29 won per 100 Japanese yen on October 12, marking its strongest valuation against the Japanese currency in nearly 19 years. The milestone reflects a sharp contrast from early 2009 when the rate peaked above 1,610 won per 100 yen, driven by strong export dollar inflows into Korea and persistent yen weakness. Meanwhile, the won-dollar exchange rate closed down 7.7 won at approximately 1,335 won per U.S. dollar (~$1.00).
So what
If you are traveling between Korea and Japan or holding yen-denominated funds, convert currencies strategically as won-denominated purchasing power remains unusually high.
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