US New York State New Deaths Decrease... Won-Dollar Exchange Rate Falls to 1220 Level on 6th

[Asia Economy Reporter Kim Eun-byeol] On the 6th, the won-dollar exchange rate fell to the 1220 won level in the Seoul foreign exchange market. This was positively interpreted due to news that the number of new deaths from the novel coronavirus infection (COVID-19) decreased in New York State, USA.

On that day, the won-dollar exchange rate closed at 1,229.3 won per dollar, down 1.6 won from the previous trading day's closing price. The exchange rate, which opened at 1,237.0 won, up 6.1 won due to the deterioration of the US employment indicators last week, gradually declined after giving up the intraday rise and eventually reversed to fall before the market closed.

In New York State, which has the highest number of confirmed cases in the US, the number of deaths on the 5th (24-hour basis) was 594, slightly down from 630 on the 4th. This is the first time the number of deaths has decreased since the COVID-19 spread intensified.

US President Donald Trump said this could be "a good sign" and expressed hope that the situation would stabilize in some hotspots. He also gave a positive assessment, saying, "We are beginning to see the light at the end of the tunnel."

However, market participants believe that concerns about market instability still persist, making it difficult for the won's strength to continue. The fact that major domestic companies started paying dividends from this week is also a factor that fuels won weakness, as foreign shareholders' demand for dollar exchange increases.

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