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Won-Dollar Exchange Rate Rises to 1,340 Won Range... Up 14 Won Amid Dollar Buying


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▲ The KOSPI, KOSDAQ, and won-dollar exchange rate are displayed at the dealing room of the Hana Bank headquarters in Jung-gu, Seoul, on the 28th, as the KOSPI started strong with a gain of around 2% in early trading.

The won-dollar exchange rate, which had hovered in the 1,320 won range over the past week, rose to the 1,340 won range on the 28th.

In the Seoul foreign exchange market today, the closing reference rate for the won against the U.S. dollar at 3:30 p.m. stood at 1,337.7 won.

This is up 14.0 won from the same time the previous trading day.

The exchange rate started at 1,326 won today, continued to rise, peaked at 1,342.3 won around 1:45 p.m., and then fell below the 1,340 won mark.

From the 20th until yesterday, the exchange rate had remained around the 1,320 won range due to dollar selling (negotiation) volumes from semiconductor export companies and other factors.

Min Kyung-won, a researcher at Woori Bank, diagnosed that following the announcement of exit polls for Israel's general election today, oil prices surged and strong dollar buying came in, while Asian currencies generally showed a weak trend.

The dollar showed strength.

The dollar index, which measures the greenback's value against six major currencies, rose 0.332 to 102.431.

West Texas Intermediate (WTI) crude oil surpassed the 100 dollar mark again at 101.55 dollars per barrel.

The won-yen cross exchange rate rose 8.41 won to 847.04 won per 100 yen.

The yen-dollar exchange rate rose 0.16 yen to 157.97 yen.

In the securities market today, foreign investors net purchased 815.8 billion won worth of shares.

The KOSPI closed up 6.63% from the previous session at 6,012.44, recovering the 6,000 mark on a closing basis for the first time in 10 trading days.

Following the previous day, a temporary suspension of program purchase quotes (buy sidecar) was triggered in the securities market.

The market is also paying attention to the Federal Open Market Committee (FOMC) meeting of the Federal Reserve (Fed) to be held tonight.

Expectations are dominant for a hawkish freeze (favoring monetary tightening).

(Photo: Yonhap News)

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Choi Seung-hun View More Articles
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