USD-KRW Exchange Rate Starts Slightly Lower... Caution Over COVID-19 Spread
[Asia Economy Reporter Jang Sehee] On the 26th, the won-dollar exchange rate started off slightly lower. As of 9:06 a.m. in the Seoul foreign exchange market, the won-dollar exchange rate was 1.8 won lower than the previous day, at 1,107.1 won per dollar.
The exchange rate opened at 1,106.7 won per dollar, down 2.2 won, and is showing limited movement in the 1,106 to 1,107 won range. Due to the recent preference for risk assets and the weak dollar trend, downward pressure on the won-dollar exchange rate is expected to be somewhat dominant. However, caution remains due to intervention by authorities.
The stock market is also cautious about the increase in confirmed cases of the novel coronavirus infection (COVID-19).
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Meanwhile, at the Bank of Korea's Monetary Policy Committee meeting scheduled for today, volatility may temporarily increase depending on Governor Lee Ju-yeol's remarks regarding the recent exchange rate trend.
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