KOR
▲ Employees monitor the stock market and exchange rates at the dealing room of the Hana Bank headquarters in Jung-gu, Seoul, on the 7th. The won-dollar exchange rate was recorded at 1,347.00 won per dollar based on Hana Bank's announcement at 8:47 a.m.
Amid US employment indicators surpassing market expectations, the won-dollar exchange rate dropped into the 1,330-won range for the first time in 1 year and 11 months.
In the Seoul foreign exchange market today (the 7th), the won's exchange rate against the US dollar was recorded at 1,338.5 won around 9:30 a.m.
This is down 11.9 won from the closing price of 1,350.4 won at 3:30 p.m. the previous trading day.
The exchange rate started trading at 1,347.8 won and has been expanding its decline since 9:00 a.m.
After dropping below the 1,340-won mark, it lowered its low further into the 1,336-won range.
The drop of the exchange rate into the 1,330-won range is the first in 1 year and 11 months since October 4, 2024 (1,331.3 won).
Compared to the recent peak of 1,559.2 won on July 1, it has fallen by more than 220 won in two months.
Even though US employment figures exceeded market expectations, the won's strength remains unbroken.
Released on the 4th (local time), US non-farm payrolls for August increased by 162,000 from the previous month, significantly outperforming expert expectations of a 53,000 increase.
Consequently, expectations for a US rate hike this month regained dominance, causing the dollar to strengthen, but the won-dollar exchange rate did not react significantly.
With semiconductor companies continuously converting earned dollars and export companies' dollar-selling orders continuing to flow in, supply and demand factors still overwhelmingly favor a strong won.
Even last week, as the 1,350-won and 1,340-won levels collapsed in succession, psychological support lines have struggled to form.
If importers' settlement demand does not recover markedly, the won-dollar exchange rate could fall further today.
At the same time, the dollar index, which measures the value of the dollar against six major currencies, stood at 99.098, up 0.105.
The won-yen cross exchange rate was 859.50 won per 100 yen, down 5.12 won.
The yen-dollar exchange rate fell 0.354 yen to 155.831 yen.
(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.
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