On the 6th, the USD-KRW exchange rate closed down 7.0 won at 1222.1 won
[Asia Economy Reporter Kim Eun-byeol] On the 6th, the won-dollar exchange rate closed lower due to gradual economic normalization movements in the United States and Europe.
On that day, in the Seoul foreign exchange market, the won-dollar exchange rate closed at 1,222.1 won per dollar, down 7.0 won from the previous trading day. The won-dollar exchange rate opened at 1,222.5 won, down 6.6 won, and maintained a sideways trend during the session.
Meanwhile, the Bank of Korea stated that foreign currency liquidity conditions continue to be favorable and plans to suspend bidding for the supply of funds under the Korea-US currency swap for the time being. In the 6th foreign currency loan competitive bidding using Korea-US currency swap funds, the bid amount remained at about $1.329 billion, which is one-third of the bidding limit.
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However, concerns that the US-China trade war could reignite due to US President Donald Trump's tough stance on China are factors limiting the decline in the exchange rate. President Trump has been attributing responsibility for the spread of the novel coronavirus (COVID-19) to China.
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