US Government's $1 Trillion Stimulus Expectation... USD-KRW Exchange Rate Plummets Again (Update)

[Asia Economy Reporter Eunbyeol Kim] The won-dollar exchange rate, which surged the previous day, is plummeting again on the 18th.

As of 9:17 a.m. on this day, the won-dollar exchange rate in the Seoul foreign exchange market is recorded at 1,232.0 won per dollar, down 11.5 won from the previous day. The exchange rate started at 1,243.0 won, down 0.5 won, and is showing a downward trend.

With a somewhat revived preference for risk assets such as emerging market currencies, the surge that continued until the previous day appears to have calmed for now. The exchange rate rose by more than 50 won over four trading days until the previous day, closing at the highest level in about 10 years.

It is interpreted that the announcement last night by the U.S. Federal Reserve (Fed) regarding the purchase of commercial paper (CP) and expectations for a $1 trillion fiscal stimulus package by the U.S. government played a role.

Following the measures by the Fed and the U.S. government, major indices including the Dow Jones Industrial Average closed sharply higher on the New York Stock Exchange.

This content was produced with the assistance of AI translation services.