Won/yen exchange rate highest in 26 months, average of 31 won increase in a month
- 5 years ago
The Japanese yen rose to its highest level against the Korean currency in more than two years last month.
According to the Bank of Korea,... a hundred yen would buy,... on average, around one-thousand-30-and-a-half Korean won.
That was 31 won higher than the average rate in December... and the highest in 26 months.
The Japanese currency is considered a safe haven for investors, amid growing concerns of a slowdown in the global economy.
An expensive yen is bad news for Koreans traveling to Japan, but encouraging news for Korean businesses exporting to Japan.
According to the Bank of Korea,... a hundred yen would buy,... on average, around one-thousand-30-and-a-half Korean won.
That was 31 won higher than the average rate in December... and the highest in 26 months.
The Japanese currency is considered a safe haven for investors, amid growing concerns of a slowdown in the global economy.
An expensive yen is bad news for Koreans traveling to Japan, but encouraging news for Korean businesses exporting to Japan.