South Korean Won Hit by Death of Kim

The South Korean Won-U.S. Dollar exchange rate has been rising rapidly following news of Kim Jong Il’s death.

Starting at 1,160 Won, the South Korean Won had struck 1,199 by lunchtime, although it subsequently declined to 1,185 Won.

A foreign exchange official commented to Yonhap, “The geopolitical risk of the Eurozone crisis and subsequent death of Kim Jong Il are causing the dramatic rise in today’s exchange rate.”