Won/Dollar Exchange Rate Drops to 1,330 Won Range... First Time in 1 Year and 11 Months
10 Articles
10 Articles
The won-dollar exchange rate fell to the 1,340 won range for the first time in 1 year and 11 months. On the 7th, in the Seoul foreign exchange market, the won-dollar exchange rate closed the weekly trading session (as of 3:30 PM) at 1,340.5 won, down 9.9 won from the previous trading day. This marks the first time the rate has reached the 1,340 won range on a weekly closing basis since October 1, 2024.
On the 4th, the won-dollar exchange rate hit a 23-month low, recording 1,345 won as of 10:30 PM. This represents a decrease of 254.2 won compared to July 1, and this changed rate can be observed at currency exchange offices in the Myeongdong area of Jung-gu, Seoul.
As the won-dollar exchange rate fell to the 1,330 won range during trading for two consecutive days, the response strategy of the foreign exchange authorities, who had previously been wary of high exchange rates, is also changing. Just two months ago, there was concern over the won's weakness with talk of breaking through 1,600 won, but the situation has now shifted to one where they must guard against a "downward bias"—an excessive drop in the …
Strengthened Won Splits Market Winners and Losers
As the exchange rate plunge from 1,560 won range to 1,330 won range, the winners in the stock market have shifted. (yonhap) As the won-dollar exchange rate continues its steep downward trend, the fortunes of different sectors are becoming clearly divided. According to the financial investment industry on Sept. 7, the won-dollar exchange rate in the Seoul foreign exchange market was recorded at 1,338.5 won as of 3:30 PM on Sept 7, down 11.9 won f…
[Digital Daily Reporter Kang Ki-hoon] The won-dollar exchange rate fell to the 1,340 won level, recording its lowest level in 1 year and 11 months. Although the dollar strengthened due to robust U.S. employment figures, dollar selling by export companies and the inflow of foreign investors into the domestic stock market acted as stronger upward pressure on the won. On the 7th, the won-dollar exchange rate in the Seoul foreign exchange market cl…
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