Won Hits 17-Year Low Amid Oil Shocks.

Written By Yovani Santana

The South Korean won closed below the 1,500 per dollar mark today for the first time since 2009. The drop is driven by a hawkish U.S. Federal Reserve and skyrocketing energy costs due to the blockade of the Strait of Hormuz. Experts warn that a prolonged blockade could raise South Korean manufacturing costs by as much as 12%.

©YovaniBernard

Yovani Santana https://yovanisantana.com
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