A strengthening US dollar and foreign selling of Korean stocks have caused the Korean won to fall to its lowest point since 2009.

According to the Zhongtong Finance APP, as the US dollar strengthens and overseas investors sell Korean stocks, the Korean won has dropped to its lowest level since the global financial crisis, leading the decline in Asian currencies. The Korean won exchange rate has fallen by 0.6% to 1559.10 won to 1 US dollar, with the currency dropping to 1562.20 last month, the lowest level since March 2009. On Wednesday, overseas investors net sold 1.46 trillion won (approximately $9.38 billion) worth of the Korean Composite Stock Price Index (KOSPI) stocks, marking the eighth consecutive day of capital outflows.