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South Korean won tumbles after Trump wins US presidential election

Nov. 6, 2024 - 21:10 By Yonhap
US dollar bills (Yonhap)

The South Korean currency fell sharply against the US dollar during intra-day trading Wednesday after Donald Trump won the US presidential election.

The South Korean won was trading at 1,400.5 won to the dollar as of 8:20 p.m., marking the first time to surpass the 1,400 won threshold since April 16.

The won opened at 1,374 won at 9 a.m., up 4.6 won from the previous session.

But the won-dollar rate reversed course in the morning, with the US dollar strengthening on news that Trump held an advantage over Democratic rival Kamala Harris in the Electoral College vote.