Won Falls Sharply against US Dollar after Martial Law, State of Emergency Declared in South Korea.

Seoul: The value of the South Korean won fell sharply against the US dollar on Tuesday after President Yoon Suk-yeol had declared martial law and a state of emergency. According to Qatar News Agency, the won fell to 1,430 won per dollar after the president's speech, while the local currency was quoted in domestic trading Tuesday afternoon at 1,402.9 won per dollar, down 1.6 won from the previous session. This is the lowest level the local currency has reached since October 26, 2022, when it fell to 1,432.4 won per dollar. South Korean President Yoon Suk-yeol, in an unannounced speech broadcast late at night local time, declared martial law and a state of military emergency, citing anti-state activities.

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