[
THE INVESTOR] South Korea’s export prices fell 1.6 percent in February from a month earlier due mainly to the strengthening won, central bank data showed on March 14.
The dollar fell 3.4 percent to 1,144.92 won in February compared to a month earlier, the Bank of Korea said in a statement.
Import prices also declined 2.2 percent last month from the previous month as manufacturers could purchase raw materials at lower prices as calculated in the local currency.
Year-over-year, however, export and import prices both jumped on the back of rising oil prices, the central bank said.
Export prices rose 4.9 percent in February from a year earlier, while import prices jumped 9.1 percent during the same period, the BOK said.
By Alex Lee and newswires (
alexlee@heraldcorp.com)