Breaking News The won-dollar exchange rate exceeded 1,480 won...For the first time since the financial crisis

Photo Source: Yonhap News

The won-dollar exchange rate, which surpassed 1,460 won for three consecutive days, broke through 1,480 won following 1,470 won today.

In the Seoul foreign exchange market, the won-dollar exchange rate started at 1,467.5 won, immediately exceeding 1,470 won, and then surpassed 1,480 won.

The exchange rate is soaring due to growing political uncertainty ahead of the vote on the impeachment of Acting President Han Deok-soo.

This is the first such surge in exchange rates in 15 years and 10 months since March 2009 during the global financial crisis.

The market believes that the won-dollar exchange rate is soaring due to increased political uncertainty and a large influx of speculative forces seeking foreign exchange profits.