South Korean won drops after Singapore central bank eases policy

South Korean won banknotes are arranged for a photograph in Seoul.
South Korean won banknotes are arranged for a photograph in Seoul. PHOTO: BLOOMBERG

SEOUL (REUTERS) - The South Korean won sharply fell against the US dollar early on Thursday (April 14) after the Monetary Authority of Singapore unexpectedly eased its exchange-rate based monetary policy settings.

The local currency was down 0.9 per cent as of 0134 GMT, trading at 1,156.0 compared to its previous close of 1,145.8.