Slight Rise in KRW-USD Exchange Rate Amid Weakening Risk Asset Appetite Sentiment

On the 8th, at the Woori Bank dealing room in Jung-gu, Seoul, employees are working as the KOSPI opened at 2745.13, down 0.31 points (0.01%) from the previous trading day. The KOSDAQ opened at 927.69, up 0.81 points (0.09%) from the previous trading day. The won-dollar exchange rate started at 1084.0 won, up 1.9 won from the previous trading day. Photo by Kim Hyun-min kimhyun81@

[Asia Economy Reporter Jang Sehee] On the morning of the 8th, the KRW-USD exchange rate is slightly rising.

At 10:25 AM in the Seoul foreign exchange market, the KRW-USD exchange rate is 1,084.4 won per dollar, up 2.3 won from the previous day. The rate started at 1,084.0 won, up 1.9 won, and is hovering in the mid-1,080 won range.

Due to the worsening situation of the novel coronavirus infection (COVID-19), expectations for the US economic stimulus package have diminished, leading to a reduced preference for risk assets such as emerging market currencies.

Meanwhile, the exchange rate had fallen for four consecutive trading days but closed flat the previous day.

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