▲ The KOSPI, the won-dollar exchange rate, and other indicators are displayed on a board in the dealing room of Hana Bank in Seoul on the 23rd. On this day, the KOSPI closed up 63.01 points (0.90%) at 7,080.92, while the Kosdaq index closed up 10.10 points (1.21%) at 844.48.
The won-dollar exchange rate dropped to the mid-1,340 won range during trading today (the 23rd) following news of negotiations between the United States and Iran, but approached 1,360 won in the afternoon due to the inflow of bargain-hunting purchases and expectations of additional tightening by the Federal Reserve (Fed).
In the Seoul foreign exchange market today, the closing price for the won against the U.S. dollar at 3:30 p.m. was 1,358.4 won, up 0.2 won from the same time the previous trading day.
Based on the 3:30 p.m. closing price, it turned upward for the first time in two days.
The exchange rate started trading at 1,355.0 won, fell to 1,347.1 won around 9:26 a.m., and subsequently reversed direction.
It rose to as high as 1,359.1 won around 3:27 p.m.
This marks the first time in six trading sessions since the 15th that the exchange rate has fallen into the 1,340 won range during intra-day trading.
International oil prices are also falling as news broke that the United States and Iran have resumed dialogue.
It was ascertained that delegations from the United States and Iran made contact on the 22nd (local time) during the UN General Assembly at the UN Headquarters in New York.
Regarding the talks with Iran, U.S. President Donald Trump stated, "We had a very productive meeting, and additional meetings are scheduled in the very near future."
Following reports that Iran proposed a plan to reopen the Strait of Hormuz within seven days on the condition that the U.S. ease military pressure, international oil prices traded below 100 dollars per barrel.
Ahead of the Chuseok holiday, exporters are also releasing dollar-selling orders (negotiation supplies).
However, bargain-hunting purchases flowed in following the sharp drop in the exchange rate the previous day, and the dollar strengthened due to expectations of additional Fed tightening, pushing the exchange rate up in the afternoon.
The closing price at 3:30 p.m. on the 22nd was 1,358.2 won, down 22.8 won from the same time the previous day.
The dollar index, which measures the value of the dollar against six major currencies, stood at 100.750, up 0.204 from the previous day.
The yen-dollar exchange rate rose 0.322 yen to 157.636 yen.
The won-yen cross exchange rate stood at 861.36 won per 100 yen, down 0.44 won from the previous trading day.
(Photo: Yonhap News)
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