USD/KRW in 2015
USD/KRW opened 2015 at 1,103.73 and closed at 1,169.26, a +5.94% move for the year. The high of 1,196.4 was reached on September 4, and the low of 1,063.03 on April 28.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 1,103.73 | 1,104.3 | 1,109.07 | 1,075.31 | +0.05% |
| Feb | 1,099.61 | 1,100.65 | 1,112.82 | 1,086.79 | +0.09% |
| Mar | 1,101.46 | 1,107.71 | 1,135.7 | 1,095.65 | +0.57% |
| Apr | 1,098.1 | 1,076.74 | 1,100.41 | 1,063.03 | -1.95% |
| May | 1,080.22 | 1,111.99 | 1,111.99 | 1,077.23 | +2.94% |
| Jun | 1,115.61 | 1,117.34 | 1,122.83 | 1,098.85 | +0.16% |
| Jul | 1,123.89 | 1,159.7 | 1,173.42 | 1,119.95 | +3.19% |
| Aug | 1,168.63 | 1,182.54 | 1,195.25 | 1,161.2 | +1.19% |
| Sep | 1,179.78 | 1,184.62 | 1,196.4 | 1,163.11 | +0.41% |
| Oct | 1,180.04 | 1,140.5 | 1,180.04 | 1,120.9 | -3.35% |
| Nov | 1,140.5 | 1,149.39 | 1,172.67 | 1,136.45 | +0.78% |
| Dec | 1,149.39 | 1,169.26 | 1,188 | 1,140.67 | +1.73% |
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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