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SEOUL, April 09 (AJP) - The value of South Korean won fell sharply against the U.S. dollar on Wednesday, reaching its lowest level in more than five years, as markets reacted to heightened uncertainty surrounding U.S. tariff policy.
As of 9:15 a.m. the won was trading at 1,486.3 per dollar, up 13.0 won from the previous session’s closing price. The intraday spike marks the currency’s highest level since March 16, 2019, when it reached 1,492.0 during the global financial crisis.
The day began with the won opening at 1,484.0, already 10.8 won higher than the previous close, before climbing further.
The volatility comes ahead of the official implementation of the U.S. tariff measures, set to take effect at 1:01 p.m. Korea time. The Trump administration’s move to raise tariffs has sparked renewed trade tensions across global markets and prompted a flight from risk-sensitive assets.
On Tuesday, Acting President and Prime Minister Han Duck-soo spoke by phone with U.S. President Donald Trump to discuss the tariff issue, though no clear resolution emerged.
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