South Korean won extends losses on North Korea tensions

SEOUL (BestGrowthStock) – The South Korean won extended losses to over 2 percent to hit an eight-month trough against the dollar early on Monday on worries heightened tensions with North Korea could spark a foreign selloff of local assets.

The won fell by as much as 2.1 percent to 1,220.0, its weakest since touching 1,224.0 on September 15, 2009, from Thursday’s domestic close of 1,194.1.

Seoul’s financial markets were closed on Friday for a public holiday.

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(Reporting by Yoo Choonsik; Editing by Jonathan Hopfner)

South Korean won extends losses on North Korea tensions