The won-dollar exchange rate dropped to the 1,371 won range, marking its lowest level in 13 months.

In the Seoul foreign exchange market, the won's exchange rate against the U.S. dollar closed at 1,372.5 won as of 3:30 p.m. today (the 28th), down 8.4 won from the same time the previous day.

Based on the 3:30 p.m. closing price, this is the lowest level since July 24 of last year, when it recorded 1,367.20 won.

The exchange rate started trading at 1,380.50 won, dropped to the mid-1,370 won range, and further widened its decline after 3 p.m.

The market is paying close attention to the message that Federal Reserve Chair Kevin Warsh is scheduled to deliver at the Jackson Hole Economic Policy Symposium tonight.

Some analysts interpreted that the upward pressure on the Korean won continued due to expectations that the weak dollar trend will persist.

Baek Seok-hyun, an economist at Shinhan Bank, said, "Expectations that Chair Warsh will not deliver a hawkish message seem to be at play."

The dollar index, which measures the value of the greenback against six major currencies, rose 0.035 to 99.160, remaining below the 100 mark.

The previous day, the Bank of Korea's Monetary Policy Board raised the base rate by 0.25 percentage points from 2.75% to 3.00%.

In the domestic securities market, foreign investors net sold 1,756.3 billion won worth of shares today.

The yen-dollar exchange rate rose 0.06 yen to 159.45 yen.

The won-yen cross rate fell 5.97 yen to 860.61 won per 100 yen.

Based on the 3:30 p.m. price, this is the lowest since July 8, 2024, when it was 860.56 yen.

(Photo: Yonhap News)