Korean won sinks to 17-year low on Mideast turmoil

The Korean won fell to its weakest level in 17 years on Monday, breaching 1,510 per US dollar, as escalating tensions in the Middle East sent shock waves through global markets. As of 9:42 a.m., the won was trading at 1,510.3 per dollar, a retreat of 9.7 won from Friday’s close. After opening at 1,504.9, it weakened to as much as 1,511.8 in morning trade — its lowest value against the dollar since March 10, 2009, when it hit 1,561 won. The currency had already closed past the 1,500 mark for two

By The Korea Herald