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Industry Report

Industry reports, briefs issued by Samsung Economic Research Institute

The Effect of Rising Proportion of Foreign Banks on the Financial Market: Overseas Examples and Their Lessons

The Effect of Rising Proportion of Foreign Banks on the Financial Market: Overseas Examples and Their Lessons

PARK Hyun-Soo

Aug. 16, 2006

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The hardening Won

The Korean Won has appreciated 36.6% against the US dollar since 2002 as the dollar began weakening against major currencies. On annual average, the Won appreciated 3 to 5% over the dollar between 2002 and 2004. But in 2005, it was up by as much as 12.7%. The Won also gained against the Japanese Yen since last year: it is up 25.4% from the beginning of 2005 to the present.

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