Woe is Won

WangKon936 over at the Marmot’s Hole comments on the falling value of the won and the effects of the financial crisis in Korea in general.

It’s no secret that the won’s value is falling like it’s going out of style. It seemed as if the bottom fell out last Thursday, where during the trading day the won dipped as low as 1,484.90 per dollar, the lowest level since the Asian financial crisis of 1998, before finally rebounding to close at 1,383.30. The one month tally? A drop of over 25% from 1,101.3 to 1,385.0

So what the hell is going on?…

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