KOR
▲ An employee works at the dealing room of Hana Bank in Jung-gu, Seoul, on June 23, as the KOSPI closed barely holding the 8,200 line after a nearly 10% plunge.
The won-dollar exchange rate has neared the 1,540 won mark again, rising for the second consecutive day due to a strong dollar and large-scale net selling of stocks by foreign investors.
In the Seoul foreign exchange market today (June 23), the daytime closing price of the won against the U.S. dollar (as of 3:30 p.m.) was recorded at 1,539.1 won, up 2.1 won from the previous day.
This closing price is the same as that of the 5th, which was the highest since the global financial crisis (1,549.0 won on March 19, 2009).
The exchange rate reached as high as 1,555.2 won during intraday trading on the 8th before changing direction, closing at 1,511.1 won on the 15th.
Since then, it has been on a continuous upward trend, with the exception of a 0.1 won decline on the 19th.
The exchange rate started the day at 1,539.4 won, up 2.4 won, and expanded its gains to climb into the 1,540 won range early in the session.
It was the first time the exchange rate exceeded 1,540 won during daytime trading since the 8th.
Afterward, as concerns over intervention by authorities grew, the rate turned downward during the session, falling to 1,532.8 won, but it shifted back to an upward trend before the close, rising to 1,542.1 won.
The dollar remains strong amid expectations of interest rate hikes by the U.S. Federal Reserve (Fed).
The dollar index, which measures the value of the dollar against the currencies of six major countries, is hovering above 101 overnight.
It is currently at 101.057, up 0.08%.
Large-scale net selling of domestic stocks by foreigners also pushed up the exchange rate.
On this day, foreign investors net sold approximately 4.1 trillion won worth of domestic stocks in the KOSPI market.
The KOSPI closed at 8,203.84, plunging 9.99%.
The Japanese yen is also showing weakness.
The yen-dollar exchange rate has remained in the 161 yen range for two consecutive days.
It is currently at 161.717 yen, up 0.13%.
The won-yen cross rate stood at 951.68 won per 100 yen, up 0.86 won from the closing price at 3:30 p.m. the previous day.
(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.
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