South Korea's won hits 15-year low against the US dollar, causing mixed impacts on citizens.

South Korea's won hit a 15-year low against the US dollar on December 19, reaching 1,452.1 won per dollar. This decline is attributed to expectations of slower US rate cuts by the Federal Reserve and domestic political uncertainties. The Bank of Korea is prepared to take measures if financial volatility becomes excessive. The won's weakness is causing financial stress for Korean students and expats in the US but is beneficial for US-based Korean travelers to Korea.

December 18, 2024
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