The large-scale selling of South Korean stocks by foreign investors caused a significant drop in the value of the South Korean won in March.

Data shows that due to the selling of South Korean stocks by foreign investors, the exchange rate of the South Korean won against the US dollar dropped significantly in March, falling to the fourth lowest level in history. According to data from the Bank of Korea and the Korea Financial News Information Network, based on the exchange rate of the Korean won against the US dollar at 3:30 pm daily, the average exchange rate of the won to the dollar for the first 27 days of March was 1 USD to 1489.3 KRW. This is the fourth lowest monthly average exchange rate on record, only surpassed by the three months following the Asia Financial Crisis of 1997: 1499.38 in December 1997, 1701.53 in January 1998, and 1626.75 in December 1998. Weekly, the average exchange rate of the won against the dollar last week was 1503.4, breaking the 1500 barrier for the first time in 17 years since the second week of March 2009. In percentage terms, the Korean won depreciated by 4.72% against the US dollar in the first 28 days of March, the largest decline among major currencies.