Jung Min-ho has worked as a staff writer at The Korea Times since 2012, mostly covering social and political issues. He currently belongs to the Politics & City Desk where he covers topics such as health, labor and human rights. Prior to joining the team, he was responsible for covering North Korea and sports. His article about a biosecurity breach of Middle East respiratory syndrome won him an award from the Korea Science Journalists Association in 2016. He is also the co-author of the book, "Medical Pioneers of Korea" (2019). He served as the head of the international relations committee at the Journalists Association of Korea from 2021 to 2023.
Korean won dips to 19-month low against major currencies
The Korean won is suffering a fall in value against major currencies, including the U.S. dollar. gettyimagesbank
By Jung Min-ho
By Jung Min-ho
The real value of Korean won compared to other major currencies has hit its lowest point in 19 months.
The latest real effective exchange rate (REER) indices compiled by the Bank for International Settlements (BIS) shows the exchange rate for the Korean currency was 110.2 points last month, the lowest since 109.64 points in September 2017.
REER is a measure of a country's currency value against a weighted average of several major currencies.
As of Monday, the Korean won is at 1,193 won against the U.S. dollar. Over the past few months, its value has weakened against the major trading partners' currencies, including the U.S. dollar, euro and yen.
Increasing trade tension between the U.S. and China is the key factor in the fall.