South Korea Real Effective Exchange Rate in 2015
South Korea Real Effective Exchange Rate opened 2015 at 106.12 and closed at 102.33, a -3.57% move for the year. The high of 106.91 was reached on April 1, and the low of 100.07 on September 1.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 106.12 | 106.12 | 106.12 | 106.12 | +0.00% |
| Feb | 105.02 | 105.02 | 105.02 | 105.02 | +0.00% |
| Mar | 105.01 | 105.01 | 105.01 | 105.01 | +0.00% |
| Apr | 106.91 | 106.91 | 106.91 | 106.91 | +0.00% |
| May | 105.69 | 105.69 | 105.69 | 105.69 | +0.00% |
| Jun | 104.31 | 104.31 | 104.31 | 104.31 | +0.00% |
| Jul | 102.14 | 102.14 | 102.14 | 102.14 | +0.00% |
| Aug | 100.60 | 100.60 | 100.60 | 100.60 | +0.00% |
| Sep | 100.07 | 100.07 | 100.07 | 100.07 | +0.00% |
| Oct | 103.14 | 103.14 | 103.14 | 103.14 | +0.00% |
| Nov | 103.48 | 103.48 | 103.48 | 103.48 | +0.00% |
| Dec | 102.33 | 102.33 | 102.33 | 102.33 | +0.00% |
Events During 2015
The PBoC devalued the yuan by 1.9% in a single day on August 11, 2015, the first meaningful devaluation since 1994. Global risk assets convulsed.
Brent crude fell from $115 in June 2014 to $27 in January 2016, a 77% collapse. Shale oversupply and OPEC's refusal to cut production broke the commodity supercycle that had dominated markets since 2003.
The Swiss National Bank abandoned its 1.20 EUR/CHF floor on January 15, 2015. The franc immediately surged 30%, blowing up retail FX brokers and exposing the fragility of exchange rate commitments.
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