World Economy

Won Gain Fastest

Won Gain FastestWon Gain Fastest

The South Korean won gained the fastest among Asian currencies last month on the back of the US Federal Reserve’s dovish stance on raising interest rates and slower depreciation of the Chinese yuan, according to data by Yonhap Infomax and Capital Economics. Won strengthened against the US dollar by 8.15% in March, the highest gain followed by the Malaysian ringgit’s 7.97% appreciation; Singaporean dollar’s 4.32%; Taiwanese dollar’s 3.44%; Philippine peso’s 3.16%; and Indian rupee’s 2.94%. The won-dollar exchange reached 1,143.50 won at the end of March, down from 1,245.30 won a month before.