As the KOSPI plunged more than 7% today (the 15th), the won-dollar exchange rate briefly rose to the mid-1,300 won range.

In the Seoul foreign exchange market today, the closing price for the won against the U.S. dollar at 3:30 p.m. was set at 1,344.6 won, up 6.3 won.

The exchange rate started at 1,342.0 won and rose to as high as 1,353.0 won around 11 a.m.

Based on the high, this is the highest level in 9 trading days since the 2nd (1,366.2 won).

Concerns over inflation heightened due to the U.S. September Consumer Price Index (CPI) growth rate exceeding expectations, amplifying vigilance over potential additional interest rate hikes by the Federal Reserve (Fed).

The September CPI announced by the U.S. Department of Labor rose 3.7% compared to the same month last year, surpassing market forecasts.

While the impact of a 9.1% month-on-month increase in gasoline prices was significant, items other than energy also generally rose, confirming widespread price pressures.

The dollar index, which measures the value of the dollar against currencies of six major countries, stood at 102.111, falling 0.415 from the previous day, but the dollar still showed strength.

Net selling by foreign investors due to the sharp decline in the domestic stock market was also a factor that pushed up the exchange rate.

The KOSPI closed at 5,554.22, down 454.59 points (7.57%) from the previous day.

Early in the session, a sell sidecar was triggered due to the steep plunge.

In the securities market, foreign investors net sold 3.624 trillion won worth of shares today, maintaining a selling superiority for the 8th consecutive trading day.

The yen-dollar exchange rate was recorded at 157.938, down 0.19%.

The won-yen cross rate stood at 851.60 won per 100 yen, up 6.07 won from the previous trading day (845.53 won).

(Photo: Yonhap News)