South Korea’s export-import prices for January inched up from the previous month… mainly due to a rebound in import prices,… which rose for the first time in three months on rising international oil prices.
The Bank of Korea says the export-import price index rose zero-point-seven percent from the previous month to nearly 83.
Export prices dropped for the third straight month mainly due to the appreciation of the Korean currency against the U.S. dollar.
Import prices rose less than a percent… as the average price of Korea’s benchmark, the Dubai crude, rose seven-and-a-half percent from the previous month to over 66 U.S. dollars
The Korean currency traded at one-thousand-66 won against the greenback… a near two-percent drop from the previous month.