Korean won forecast to rise fast against U.S. dollar
Seoul - Yonhap
The South Korean currency is expected to rise above the 1,000 won level against the U.S. dollar within this year amid the greenback's weakness stemming from the U.S. government debt crisis, market watchers said Sunday. The won's expected appreciation is feared to erode exporters' profitability and put a damper on South Korea's exports by making them more expensive in overseas markets. South Korea, Asia's fourth-largest economy, relies on exports for more than 50 percent of its economic growth.
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