Won-Dollar Exchange Rate Closes at 1100.8 Won on the 2nd... Lowest in 2 Years and 6 Months (Comprehensive)
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[Asia Economy Reporter Eunbyeol Kim] On the 2nd, the won-dollar exchange rate closed in the 1100 won range, marking the lowest level in 2 years and 6 months.
On that day, in the Seoul foreign exchange market, the won-dollar exchange rate closed at 1100.80 won per dollar, down 5.40 won from the previous day. This not only set a new yearly low at the closing price but was also the lowest level in about 2 years and 6 months since June 15, 2018 (1097.70 won).
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The exchange rate started trading at 1105.2 won, down 1.0 won, and showed limited movement in the early session around the 1105 won range before entering a full-fledged downward trend. Due to news related to the US's COVID-19 response fiscal stimulus measures the previous day, global risk asset preference sentiment revived, and a weak dollar atmosphere formed, increasing downward pressure on the won-dollar exchange rate.
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