Korean currency weakens 10.9 won to 1,484.1 won per dollar, KOSPI drops 1.7%

The Korean currency weakened to the lowest level in more than 16 years against the U.S. dollar, Wednesday, as Donald Trump’s reciprocal tariffs take effects.

The won closed at 1,484.1 won per dollar on the daytime trading market, depreciating by 10.9 won from the previous day’s close. It was the lowest level since March 12, 2009, during the global financial crisis.

The won’s depreciation was largely attributable to a 25 percent tariff against Korea-manufactured goods, market analysts said.