▲ Stock prices are displayed at the dealing room of the Hana Bank headquarters in Jung-gu, Seoul, on the 28th. On this day, the KOSPI closed down 191.18 points (2.70%) at 6,889.74. The KOSDAQ opened up 1.00 point (0.12%) at 845.48 and closed up 2.10 points (0.25%) at 846.58.
The won-dollar exchange rate climbed to the mid-1,360 won range today (the 28th), reflecting the surge in U.S. Treasury yields during the Chuseok holiday.
According to the Seoul foreign exchange market, the closing price for the won against the U.S. dollar at 3:30 p.m. was tallied at 1,365.1 won.
This is an increase of 7.6 won compared to the benchmark price at the same time on the previous trading day (1,357.5 won).
Based on the 3:30 p.m. standard, the exchange rate rose on the 23rd and 24th, dropped by 8.5 won on the 25th, but bounced back upward in just a day.
The exchange rate started the day at 1,357.0 won and rose to 1,362.5 won around 11:07 a.m.
Afterwards, it dipped to the mid-1,350 won range before regaining upward momentum around 1,00 p.m., pushing its high up to 1,365.5 won.
The dollar appears to have faced upward pressure on the exchange rate as the greenback strengthened in the wake of rising U.S. Treasury yields.
During the Chuseok holiday, the yield on the 10-year U.S. Treasury note shot up to 5.22%, marking its highest level since 2007.
The 30-year bond yield hit 5.501%, its highest level since 2004.
The dollar index, which measures the value of the U.S. dollar against currencies of six major countries, stood at 101.169, up 0.02 from the benchmark price at the same time on the previous trading day.
Foreign investors also exerted upward pressure on the exchange rate by net selling 3.2295 trillion won worth of shares on the domestic main bourse KOSPI market today.
The anticipated wave of dollar selling (Nego) by exporters ahead of the end of the month did not appear as strong as expected today.
Caution regarding intervention by Japanese authorities also failed to significantly dampen the upward trend of the exchange rate.
Japanese Finance Minister Satsuki Katayama stated in a press conference on the 25th that U.S. President Donald Trump expressed concern over the weak yen during a summit with Japanese Prime Minister Sanae Takaichi on the 22nd (local time).
Kwon Min-soo, Deputy Governor of the Bank of Korea, held a "Market Situation Inspection Meeting" today and remarked, "Uncertainty in the international financial market appears to have heightened further during this Chuseok holiday period," adding, "We will closely monitor the situation with exceptional vigilance."
The won-yen cross exchange rate rose by 6.06 won to 865.96 won per 100 yen.
The yen-dollar exchange rate stood at 157.625 yen, down 0.51 yen.
(Photo: Yonhap News)
※
Copying, redistribution, and unauthorized use in AI training are strictly prohibited.