MOSCOW (Pakistan Point News / Sputnik - 22nd September, 2022) The South Korean national Currency won on Thursday fell below 1,400 against the US Dollar for the first time in more than 13 years following a rate hike by the US Federal Reserve, media reported.
As of 02:21 GMT, the won traded at 1,408.9 per US dollar, the Yonhap news agency reported.
The South Korean currency has fallen through the 1,400 mark for the first time since March 31, 2009, when the won hit 1,422 per US dollar, the report said.
The won fell after the US Federal Reserve on Wednesday raised its key interest rate by 75 basis points to a record 3.25%, maximum since 2008.
The US could go for a further 125 basis point rate hike by the end of the year, according to Federal Reserve Chairman Jerome Powell.
