Korean won hits 17-yr low as Iran crisis escalates

The South Korean currency hit a fresh 17-year low against the US dollar on Monday, as geopolitical tensions stemming from the Iran crisis continued to weigh on investor sentiment and drive demand for hard currency. The won was quoted at 1,517.30 per dollar as of 3:30 p.m., down 16.7 won from the previous session, after opening at 1,504.9. On Thursday, the currency closed at 1,501 won per dollar, the lowest since March 9, 2009, when it hit 1,549 during the global financial crisis. The won slightl