▲ The won-dollar exchange rate displayed at the dealing room of Hana Bank in Jung-gu, Seoul, on the 29th.
The won-dollar exchange rate surpassed 1,550 won during intraday trading as the U.S. dollar remained strong, fueled by foreign investors' net selling of domestic stocks and the continued weakness of the Japanese yen.
In the Seoul foreign exchange market today (June 30), the won-dollar exchange rate was trading at 1,550.2 won as of approximately 10:15 a.m., up 5.0 won from the previous day's daytime closing price (as of 3:30 p.m.).
The exchange rate opened at 1,543.1 won, down 2.1 won, but soon reversed course and briefly climbed above 1,550 won.
As of 10:55 a.m., it is fluctuating in the high 1,540 won range.
This marks the first time in 16 trading days that the exchange rate has exceeded 1,550 won during daytime trading since the 8th, when it reached an intraday high of 1,555.2 won.
The exchange rate closed the previous day's daytime session at 1,545.2 won, up 13.2 won, marking its highest level since March 9, 2009 (1,549.0 won), during the global financial crisis.
Since closing at 1,511.1 won on the 15th, the exchange rate has maintained an upward trend, with the exception of only two days.
The strength of the U.S. dollar continues.
The primary driver is the strengthening outlook for interest rate hikes by the U.S. Federal Reserve.
Although the dollar's rise paused overnight as the U.S. and Iran agreed to halt attacks and hold further talks through the weekend, it resumed its upward momentum today.
The dollar index, which measures the value of the dollar against six major currencies, fell to 101.074 overnight but is currently up 0.14% at 101.255.
The weakness of the yen also appears to be influencing the rise in the won-dollar exchange rate.
Earlier today, the yen-dollar exchange rate rose to 162.329 yen around 9:54 a.m., reaching its highest level in approximately 39 years and 6 months since December 1986, shortly after the Plaza Accord.
Since the psychological resistance level of 161.96 yen was breached in July 2024 and the rate surpassed 162 yen, it has shown little sign of declining, even following verbal interventions by Japanese currency authorities.
In a press conference following a cabinet meeting this morning, Japanese Finance Minister Satsuki Katayama emphasized regarding the yen's weakness, "We will respond appropriately whenever necessary," adding, "It was confirmed during the recent online meeting between U.S. and Japanese finance ministers that this includes decisive action."
Foreign investors' net selling of domestic stocks is also pushing up the exchange rate.
As of 11:00 a.m. today, foreign investors have recorded a net sell-off of approximately 2 trillion won.
The previous day, they recorded a record-high net sell-off of approximately 7.7 trillion won.
The won-yen cross rate stood at 955.36 won per 100 yen, up 0.59 won from the closing price at 3:30 p.m. the previous day.
(Photo: Yonhap News)
※
Copying, redistribution, and unauthorized use in AI training are strictly prohibited.