The won-dollar exchange rate has fallen by approximately 30 won, dropping below the 1,500 won mark for the first time in over a month.

Market analysts attribute this trend to expectations surrounding the potential listing of SK Hynix's American Depositary Receipts (ADR) and a shift to net buying of domestic stocks by foreign investors.

As of 3:30 p.m. today (July 8) in the Seoul foreign exchange market, the won-dollar exchange rate closed at 1,498.5 won, down 29.7 won from the previous trading day.

This marks the first time the exchange rate has fallen below the 1,500 won level during trading hours since May 29, when it reached an intraday low of 1,494.9 won.

The exchange rate opened at 1,516.5 won, down 11.7 won, and saw its decline accelerate in the afternoon, reaching as low as 1,498.1 won.

The downward pressure on the exchange rate eased as foreign investors, who had been net sellers of domestic stocks for 13 consecutive trading days until yesterday, shifted to net buying.

In the KOSPI market today, foreign investors recorded a net purchase of approximately 300 billion won.

Seo Jung-hoon, a senior researcher at Hana Bank, stated, "There is a possibility that selling occurred in advance through forward exchange contracts," adding, "As that volume hit the market, other exporters also began selling their dollar holdings, which appears to have driven the exchange rate down further."

Meanwhile, the Japanese yen continues to show weakness.

The yen-dollar exchange rate rose by 0.16% to 162.244 yen.

With the yen weakening while the won strengthens, the cross rate for the won-yen fell by nearly 20 won.

The won-yen cross rate stood at 923.86 won per 100 yen, down 19.39 won from the closing rate at 3:30 p.m. the previous day.

(Photo: Yonhap News)