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Korean won hits 2-year low against yen on tariff concerns
The Korean won fell to a two-year low of around 1,000 won (US$0.69) per 100 yen (US$0.68) this week amid global economic uncertainties.
Contributing factors include the US administration’s tariff policies, which have driven investors toward safe-haven assets like the Japanese yen.
As of 3:30 pm on Apr. 3, the won traded at 996.33 per 100 yen (US$0.68), its weakest since Apr. 27, 2023, when it was at 1001.71.
By Apr. 4, afternoon, it slightly rebounded to 981.82.
On Apr. 3, the yen-dollar exchange rate stood at 147.02 yen per dollar. The US dollar index dropped to the mid-102s, hitting its lowest in six months since October 2024.
