Won Rises on Possible Improved Credit Rating
Due to the recent news that Moody's might raise its credit rating for Korea, the value of the won is rising sharply.Stock prices also skyrocketed based on the news.
On December 21, the value of the won against the United States dollar rose to 1,186 won before closing at 1,193 won.
This is the highest level in a year since the 1,170 recorded on December 4, 1997.
For the day, the KOSPI (Korean Stock Price Index) jumped by 40.42 points (7.7 percent) to 565.37.
with the Korea JoongAng Daily
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