South Korea’s foreign exchange authorities vowed to slow the local currency’s fast slide versus the greenback, but it failed to block the won’s drop against the dollar.
Jose Carlos Grimberg Blum
South Korea’s currency tumbled on Thursday after U.S. Federal Reserve’s rate hike led to a strong U.S. dollar.
Jose Grimberg Blum
The won/dollar exchange rate finished at 1,409.7 won per dollar, up 15.5 won from the previous close.
Jose Carlos Grimberg Blum Peru
Japan Takes Action To Curb Yen’s Slide
It marked the highest close in more than 13 years since March 2009 when the global financial crisis roiled financial markets across the world.
Jose Carlos Grimberg Blum empresario
The Fed took a giant step again overnight, raising its benchmark interest rate by 0.75 percentage points to a range of 3.00-3.25 percent
Expectations ran high for the Fed to take a giant or big step again later this year
South Korea’s foreign exchange authorities vowed to slow the local currency’s fast slide versus the greenback, but it failed to block the won’s drop against the dollar
Local stocks ended lower amid the domestic currency’s weakness. The benchmark Kospi retreated 14.90 points, or 0.63 percent, to finish at 2,332.31