US FOMC Anxiety Eased... Won-Dollar Exchange Rate Declines

[Asia Economy Reporter Jang Sehee] On the morning of the 29th, the won-dollar exchange rate is on a downward trend.

As of 9:09 a.m. in the Seoul foreign exchange market, the exchange rate of the won against the dollar was 1,151.0 won per dollar, down 3.6 won from the previous day's closing price.

The decline in the exchange rate was largely influenced by the statement released at dawn Korean time by the U.S. central bank, the Federal Reserve (Fed), following the Federal Open Market Committee (FOMC) regular meeting.

The Fed held a two-day FOMC meeting and kept the benchmark interest rate unchanged at 0.00?0.25%. It also decided to continue purchasing bonds worth $12 billion per month, maintaining a dovish stance rather than preparing for monetary tightening, which led to a weaker dollar.

Meanwhile, at the same time, the won-yen recalculated exchange rate was 1,047.61 won per 100 yen, down 3.22 won from the previous day's 3:30 p.m. reference price of 1,050.83 won.

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