▲ The KOSPI and the won-dollar exchange rate are displayed at the dealing room of Hana Bank headquarters in Jung-gu, Seoul, on July 7.
The won-dollar exchange rate fell slightly today (July 7) due to the strengthening of the Japanese yen and dollar selling by exporters.
In the Seoul foreign exchange market today, the daytime closing price of the won against the U.S. dollar (as of 3:30 p.m.) was recorded at 1,528.2 won, down 2.1 won from yesterday.
On this second day of the extended 24-hour foreign exchange market trading, the exchange rate opened at 6:00 a.m. at 1,528.9 won, down 1.4 won from yesterday.
It rose to 1,531.9 won shortly after but subsequently fell, reaching 1,519.6 won during intraday trading.
The exchange rate later narrowed its decline before closing the daytime session in the 1,520 won range.
As the exchange rate, which had been hovering around 1,550 won last week, showed a downward trend, it appears that dollar selling by exporters pushed the rate lower.
The shift toward a stronger yen is also cited as a factor in the decline of the exchange rate.
The yen-dollar exchange rate, which rose to 162.417 yen yesterday, fell to the high 161 yen range today.
It is currently at 161.997 yen, down 0.05 percent.
The won-yen cross rate was 943.25 won per 100 yen, down 0.27 won from the base rate at 3:30 p.m. yesterday.
The high-flying dollar strength also appears to have paused slightly.
The dollar index, which measures the value of the dollar against six major currencies, rose to 101.145 yesterday but fell to the 100 level today.
In the afternoon, it rose slightly to 100.945, up 0.10 percent from the same time yesterday.
However, the decline in the exchange rate remains limited as foreign investors continue to net sell domestic stocks.
On this day, foreign investors net sold approximately 2.9 trillion won worth of domestic stocks in the KOSPI market.
This marks 13 consecutive trading days of net selling since June 19.
The KOSPI closed at 7,656.31, down 4.91 percent, after showing extreme volatility during the session.
(Photo: Yonhap News)
※
Copying, redistribution, and unauthorized use in AI training are strictly prohibited.