A trade deficit of $4.7 billion was recorded in July as high oil prices and a weak won pushed imports up to a monthly record despite strong exports. It was the fourth monthly trade deficit in a row, the first time that has happened in 14 years.
A board at Hana Bank in Seoul on Monday shows the won up 10.30 won from Friday to reach 1,242.30 against the dollar. The fall of the Korean won has been gaining momentum, with market experts projecting it to reach 1,250 won soon.
Korea JoongAng Daily Sitemap