South Korean won declines to new multi-year low against US dollar

Against the US dollar, the South Korean won traded down during early Asian deals on Monday. At about 9:55 pm ET, the won touched 1102.90 per dollar, compared to 1081.50 hit late New York Friday. This set a new multi-year low for the South Korean currency.

Imports in South Korea increased 37.0 percent on year in August, the Ministry of Knowledge Economy said on today in a statement. That was higher than the 33.5 percent annual gain that analysts had been expecting, but it was less than the 47.2 percent jump in July. Exports were up 20.6 on year, coming in less than forecasts that had called for a 22.7 percent annual increase, the data showed. Exports were up 36.0 percent on year in July. Copyright(c) 2008 RealTimeTraders.com, Inc. All Rights Reserved