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Korean won tumbles after Trump wins US presidential election

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  • Published Nov 6, 2024 9:37 pm KST
  • Updated Nov 6, 2024 9:37 pm KST
An electronic board in the trading room of a branch of Hana Bank in Seoul, Monday. Yonhap

An electronic board in the trading room of a branch of Hana Bank in Seoul, Monday. Yonhap

The Korean currency fell sharply against the U.S. dollar during intra-day trading Wednesday after Donald Trump won the U.S. presidential election.

The Korean won was trading at 1,400.5 won to the dollar as of 8:20 p.m., marking the first time to surpass the 1,400 won threshold since April 16.

The won opened at 1,374 won at 9 a.m., up 4.6 won from the previous session.

But the won-dollar rate reversed course in the morning, with the U.S. dollar strengthening on news that Trump held an advantage over Democratic rival Kamala Harris in the Electoral College vote. (Yonhap)