Won Drops After South Korean Inflation Reaches Record Low

The South Korean won declined against the US dollar today after South Korea’s inflation fell to the lowest level on record.
South Korea’s consumer prices were unchanged in August, year-on-year, after rising 0.6% in the previous month. Market participants were not prepared for such a bad reading, counting on an increase of about 0.3%. The decline of inflation was mainly the result of a plunge in fresh food prices.
USD/KRW rose 0.41% to 1,215.76 as of 17:10 GMT today.

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