Won-Dollar Exchange Rate Falls 15.8 Won to 1,446.7 Won, Lowest Since Middle East War

The won-dollar exchange rate dropped into the 1,440-won range today (July 29), recording its lowest level in about five months.

In the Seoul foreign exchange market, the won-to-US dollar exchange rate stood at 1,446.7 won as of 3:30 PM, down 15.8 won.

Based on the 3:30 PM closing price, this is the lowest level since February 27 (1,439.70 won), right before the outbreak of the Middle East war.

The exchange rate started at 1,455.00 won, peaked at 1,457.80 won around 9:17 AM, and steadily declined to hit a low of 1,442.60 won around 1:43 PM.

The intraday low is the lowest since May 6 (1,439.60 won).

Market analysts attribute the downward pressure on the exchange rate to the inflow of funds raised through SK Hynix's listing of American Depositary Receipts (ADRs) into the foreign exchange market, alongside month-end dollar-selling by exporters.

In the domestic securities market, foreign investors net sold approximately 1.2 trillion won worth of stocks today.

The KOSPI closed down nearly 6% from the previous day at 5,663.24.

The KOSDAQ index also fell more than 6% to close at 662.68, following a sharp decline (-7.72%) the previous day.

For the second consecutive day following yesterday, program trading sell sidecars and 20-minute trading halts (circuit breakers) were triggered in both the KOSPI and KOSDAQ markets.

The dollar index, which measures the greenback's value against six major currencies, fell 0.077 to 101.334.

The yen-dollar exchange rate fell 0.235 yen to 163.546 yen.

The won-yen cross rate dropped 8.82 won to 884.56 won per 100 yen.
※ Please note: This article was translated by AI and may contain errors.