Won-Dollar Exchange Rate Drops 3.8 Won to Close at 1097.0 on the 3rd (Comprehensive)
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[Asia Economy Reporter Jang Sehee] On the 3rd, the won-dollar exchange rate closed at 1197.0 won, down 3.8 won from the previous day in the Seoul foreign exchange market.
On that day, the exchange rate opened at 1100.1 won, down 0.7 won. Afterwards, the decline widened, falling to the 1097~1099 won range. This is the lowest level in about 2 years and 6 months since the intraday low of 1087.30 won recorded on June 15, 2018.
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Due to news related to the US fiscal stimulus measures in response to the novel coronavirus disease (COVID-19), global risk asset preference sentiment has revived and a weak dollar atmosphere has formed, increasing downward pressure on the won-dollar exchange rate.
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