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As the dollar continues to strengthen, not only the Korean won, but also the euro is falling significantly.
Even the 1 euro = 1 dollar formula is breaking for the first time in 20 years.
This means that concerns about a European recession are growing.
There are even predictions that Germany, the largest economy in Europe, will experience negative growth.
By Bae Jun-woo.
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One euro fell to 0.9913 dollars, falling below one dollar for the second time this year.
After breaking the "lowest record" in 20 years, set in the middle of last month, on the 22nd, it has not recovered the dollar.
In fact, for the first time since the introduction of the euro, the formula of '1 euro = 1 dollar' has been broken in the long run.
The main factors are the surge in energy prices following an aggressive US interest rate hike and Russia's cut off natural gas supply.
Europe's largest economy, Germany, is also faltering as fears of a European recession are becoming more real.
Germany's representative economic indicator, the manufacturing/services index, PMI, fell below 50, indicating a recession, and recorded 47.6 this month.
It is the lowest since June 2020.
The Federal Bank of Germany has also warned that Germany will fall into a recession with negative growth.
In the UK, consumer prices rose in double digits.
Some large supermarkets have even removed the expiration date of about 250 items, including vegetables and fruits, to reduce food waste costs.
The French government introduced an energy cap to respond to inflation, but it is only going to be implemented until this winter.