Won-Dollar Exchange Rate Closes at 1,176.3 Won, Up 7.3 Won... Highest in 11 Months

[Asia Economy Reporter Kim Eun-byeol] On the 17th, the won-dollar exchange rate closed in the 1176 won range, marking the highest level in 11 months.

On that day, in the Seoul foreign exchange market, the won-dollar exchange rate closed at 1176.3 won per dollar, up 7.3 won from the previous trading day's closing price. This is the highest level since September 15 last year (1179.0 won) based on the closing price.

On that day, the won-dollar exchange rate started at 1166.0 won, down 3.0 won, but then rebounded and surpassed 1170 won early in the session. During the session, it rose to as high as 1179.0 won. This is the highest level since the intraday high of 1181.5 won on September 16 last year. The dollar strengthened as concerns over delayed global economic recovery spread due to the spread of the Delta variant virus infection.

Factors such as weaker-than-expected economic indicators from major countries including the United States and China, geopolitical risks such as the Taliban regime takeover in Afghanistan, and the imminent reduction of asset purchases by the U.S. Federal Reserve (Fed) have continued the preference for the safe-haven dollar.

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