Won-Dollar Exchange Rate on the 1st Returns to the 1120-Won Range During Trading (Update)

[Image source=Yonhap News]

[Asia Economy Reporter Eunbyeol Kim] On the morning of the 1st, the KRW-USD exchange rate rose back to the 1120 won level.

In the Seoul foreign exchange market, as of 9:10 a.m. that day, the KRW-USD exchange rate was trading at 1120.7 won per dollar, up 1.9 won from the previous trading day's closing price. The exchange rate started at 1119.5 won, up 0.7 won, and rose slightly.

Recently, the US New York stock market plunged amid a battle between Robinhood (retail investors) and institutional investors conducting short selling, which has dampened risk asset preference sentiment and put upward pressure on the KRW-USD exchange rate.

In the US New York stock market, where volatility increased around certain stocks, major indices such as the Dow Jones Industrial Average (-2.03%), Standard & Poor's (S&P) 500 Index (-1.93%), and Nasdaq Index (-2.0%) fell nearly 2% on the 29th of last month (local time). In the domestic stock market, foreign capital outflow caused the market to decline, and the exchange rate also showed an upward trend.

This content was produced with the assistance of AI translation services.