Photo : YONHAP News
South Korea’s import and export prices both fell last month, owing to the won’s appreciation against the U.S. dollar and a drop in global oil prices.
According to data from the Bank of Korea on Friday, the country’s export price index reached 130-point-35 in August, down two-point-six percent from a month earlier.
The central bank attributed the fall to the appreciation of the local currency, which strengthened two-point-one percent against the U.S. dollar last month.
The import price index also fell three-point-five percent month over month to 138-point-33 in August.
The decrease is mainly due to a fall in oil prices, with the price of Dubai Crude, South Korea’s benchmark, slipping seven-point-four percent month over month in August.