S.Korean currency tumbles after Fed's rate hike

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S.Korean currency tumbles after Fed's rate hike

STORY: S.Korean currency tumbles after Fed's rate hike DATELINE: Sept. 22, 2022 LENGTH: 00:01:32 LOCATION: Seoul CATEGORY: ECONOMY SHOTLIST: 1. Various of screens showing exchange rate between U.S. dollar and the Korean won, The Korea Exchange (Yonhap TV) 2. Various of screens showing exchange rate between U.S. dollar and the Korean won, Kookmin Bank of Dealing Room (Yonhap TV) 3. Staff working in front of screens showing exchange rate (Yonhap TV) 4. Various file of U.S. dollars (Yonhap TV) STORYLINE: South Korea's currency tumbled on Thursday after U.S. Federal Reserve's rate hike led to a strong U.S. dollar. The won/dollar exchange rate finished at 1,409.7 won per dollar, up 15.5 won from the previous close. It marked the highest close in more than 13 years since March 2009 when the global financial crisis roiled financial markets across the world. The Fed took a giant step again overnight, raising its benchmark interest rate by 0.75 percentage points to a range of 3.00-3.25 percent. Expe

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