Won Falls 3.2 Won to 1,340 Won Amid Dollar Selling by Export Companies

The won-to-dollar exchange rate fell into the high 1,330 won range during intraday trading today (the 7th).

This is the lowest level in about a month.

Dollar-selling volumes by semiconductor export companies appear to have driven the strengthening of the won.

In the Seoul foreign exchange market today, the closing reference rate for the won against the U.S. dollar at 3:30 p.m. was tallied at 1,340.4 won.

This is down 3.2 won from the closing reference rate at 3:30 p.m. the previous day.

The exchange rate has been on a downward trend consecutively since the 2nd.

The exchange rate started at 1,339 won today, hit its intraday high of 1,341.4 won at around 9:00 a.m., and then fluctuated in the high 1,330 won range while testing the lower bound.

Subsequently, it hit its low of 1,337.6 won at around 10:06 a.m.

This is the first time the exchange rate has fallen below the 1,340 won line since September 10.

However, net selling of domestic stocks by foreign investors limited the decline in the exchange rate.

In the main bourse KOSPI market today, foreigners recorded a net selling of about 2.6 trillion won.

The dollar index, which shows the value of the dollar against currencies of six major countries, rose 0.268 to 102.113.

As New York stock markets finished strong overnight and international oil prices showed a stabilization trend, risk-on sentiment strengthened.

West Texas Intermediate (WTI) crude is trading around the 90 dollars per barrel mark, and Brent crude is trading near 100 dollars.

The yen-to-dollar exchange rate rose 0.23 yen to 158.33 yen.

The won-to-yen cross rate fell 2.81 won to 846.44 won per 100 yen.

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