Markets

South Korea won falls to 3-1/2 week low as Fed boosts dollar

Published March 20, 2014 Updated March 20, 2014 06:37am

1 min

By Shoaib Ur Rehman

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SEOUL: The South Korean won fell to its lowest in three and a half weeks on Thursday after the US dollar broadly advanced on remarks from Federal Reserve Chair Janet Yellen that suggested US interest rates could be raised sooner than expected.

The local currency was quoted at 1,076.2 against the dollar at the end of onshore trade in a third day of declines, down half a percent compared with Wednesday's close at 1,070.5.

The won touched 1,077.0 in midday, its weakest level since Feb. 24.

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