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The Korea Herald
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THE INVESTOR
March 28, 2024

Economy

Export prices fall on strong won

  • PUBLISHED :March 14, 2017 - 13:53
  • UPDATED :March 14, 2017 - 13:53
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[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)

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