KOR
▲ Employees work at the dealing room of Hana Bank in Jung-gu, Seoul, on the 2nd, as the KOSPI rose to close in the 7,000 range for the first time in five trading sessions.
The won-dollar exchange rate rose to the mid-1,360 won range early in the session today (the 2nd), reflecting global dollar strength, before dropping below 1,350 won as a flood of dollar-selling orders (export proceeds) from exporters hit the market.
In the Seoul foreign exchange market, the closing price for the won against the US dollar at 3:30 p.m. was tallied at 1,350.6 won.
This is down 7.8 won from the closing price at the same time the previous trading day (1,358.4 won).
The exchange rate started trading at 1,358.3 won and climbed to 1,366.2 won at around 9:30 a.m., reflecting the global strength of the dollar.
However, it subsequently reversed course and maintained a downward trend.
At around 3:15 p.m., it fell to 1,349.8 won.
This marks the first time in nine days since September 23 (1,347.1 won) that the exchange rate has fallen below 1,350 won.
The gap between the high and low widened to 16.4 won.
The fluctuation range was the largest since September 23 (23.5 won).
The exchange rate appears to have surged initially in reflection of dollar strength before reversing downward as exporters massively unloaded dollar-selling orders, perceiving the levels as a peak.
Overnight, the dollar index, which measures the value of the greenback against six major currencies, soared to 102.203, surpassing 102 for the first time since April of last year and showing strong momentum.
As of 3:30 p.m. today, the dollar index stood at 101.866, up 0.23 from the previous day.
The won-yen cross rate stood at 856.76 won per 100 yen, down 1.55 won.
The yen-dollar exchange rate was 157.628 yen, down 0.64 won.
(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.
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