On the 23rd, Won-Dollar Exchange Rate Slightly Weak in Early Trading... Around 1147~1148 Won

[Image source=Yonhap News]

[Asia Economy Reporter Eunbyeol Kim] On the 23rd, the KRW-USD exchange rate showed a slight decline in the early trading session.

At the Seoul foreign exchange market, as of 10:02 AM, the KRW-USD exchange rate was trading at 1,147.75 KRW, down 2.3 KRW from the previous day's closing price. The exchange rate started trading at 1,151.0 KRW, up 1.1 KRW from the previous day, but soon turned downward and has been moving around the 1,147 to 1,148 KRW level.

Volatility remains limited amid a partial easing of risk-asset avoidance sentiment.

Overnight, the European Central Bank (ECB) adopted a dovish (monetary easing-preferred) monetary policy, and major country stock markets closed higher; however, weak U.S. economic indicators led the 10-year U.S. Treasury yield to slightly decline, recording around 1.26%.

Ongoing concerns over the spread of the COVID-19 Delta variant are factors pushing the exchange rate higher, but the authorities' caution against further new highs is considered a factor for the decline.

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