Indeed, the won is in free fall, having lost 16 percent of its value against the dollar the last two days.

The force working against the dollar is the higher interest rates in other countries.

The real has now lost about 30 percent of its value against the dollar this year.

But it is still down 9.3 percent against the dollar for the year.

On May 26th it hit a new high against the dollar of 108.5.

It has now lost 40 percent of its value against the dollar.

Its value fell by more than 90 percent against the dollar.

Still, the real fell by 0.37 percent against the dollar.

The won is now worth about half what it was against the dollar at the beginning of 1997.

Its value against the dollar has actually declined by 24 percent since 1999.