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The won-dollar exchange rate crossed 1,440 won during the day, setting a new record this year.
The KOSPI and KOSDAQ also fell by around 3% each.
Korean government bond yields also rose.
As fears of a global economic downturn grow, fear is spreading in the market.
Reporter Kim A-young reports.
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The exchange rate closed today at 1,439.9 won to 1 dollar.
He won 18 more than yesterday.
During the day, it also broke the level won at 1,440, the first time since March 2009.
The stock market also plunged.
The KOSPI index fell 2.45%, breaking the 2,200 line, while the KOSDAQ fell 3.47%.
The reason why the exchange rate increased is that the value of the yuan fell due to fears of a recession in China.
The People’s Bank of China posted the yuan exchange rate at 7.1107 yuan to the dollar, up 0.54% since yesterday, the highest since June 2020.
Treasury yields also rose.
When the interest rate of Korean government bonds has risen, it means that the price of government bonds has fallen because the economy is not doing well.
The government and the Bank of Korea decided to urgently invest 5 trillion won to buy government bonds to stabilize the market.
When Treasury yields rise, so do borrowing rates.
The interest burden on borrowers is increasing, making it difficult for companies to raise money.
This is Kim Ah-young from MBC News.
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