Won-Dollar Exchange Rate Stays in 1,410-Won Range for Second Day... Rebounds on Foreign Net Selling and Dip-Buying

The won-dollar exchange rate edged up slightly on the 10th due to foreign net selling of local stocks and an influx of dip-buying.

In the Seoul foreign exchange market, the benchmark rate for the won against the U.S. dollar at 3:30 p.m. (the previous daytime trading closing price) was tallied at 1,418.4 won, up 2.3 won from the previous trading day.

Following 1,416.1 won on the 7th, it remained in the 1,410-won range for the second consecutive day.

The exchange rate started trading at 1,413.0 won, dropped to as low as 1,408.8 won in early trading, and then maintained an upward trend.

The rebound is attributed to the inflow of dip-buying demand as the exchange rate edged close to the 1,400-won mark.

On the night of the 7th, the dollar weakened due to slowing U.S. employment data, pushing the rate down to 1,407.3 won during intraday trading.

Foreign investors also drove up the exchange rate by net selling more than 1 trillion won worth of domestic stocks.

On this day, foreign investors net sold approximately 1.48 trillion won in the KOSPI market.

The dollar index, which measures the greenback's value against six major currencies, rose 0.10% to 99.692.

It had dropped to 99.403 on the night of the 7th before recovering slightly.

The Japanese yen maintained its strength driven by the impact of intervention by U.S. and Japanese monetary authorities.

The yen-dollar exchange rate stood at 158.379 yen, remaining similar to the previous trading day.

The won-yen cross rate was 895.31 won per 100 yen, up 0.14 won from the 3:30 p.m. benchmark rate of the previous trading day.

(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.