Won's value 'fall' at level comparable to Russian ruble

The value of the Korean won fell to a level comparable to that of Russia, which is at war, last month due to the emergency martial law crisis amid the prospect of a delay in the U.S. cut in the benchmark interest rate.

According to the data submitted by the Bank of Korea to the office of Lim Kwang-hyun of the Democratic Party of Korea, the depreciation rate of the won against the U.S. dollar last month was -5.3%.

It was the second-largest fall in value among the 20 major currencies after the Russian ruble, which stood at -6.4% against the U.S. dollar.

The Bank of Korea (BOK) said the recent rise in the exchange rate boosted monthly consumer price growth by up to 0.1 percentage point last month, adding that it is likely to affect prices this month.

However, considering the low demand pressure and the base effects of oil and agricultural prices, the inflation rate is expected to remain below 2% for the time being.