Won-Dollar Exchange Rate Rises... Closes at 1,176 Won
[Asia Economy Reporter Jang Sehee] On the 13th, the won-dollar exchange rate closed higher.
On that day, in the Seoul foreign exchange market, the won-dollar exchange rate stood at 1,176.0 won per dollar, up 6.9 won from the previous trading day's closing price.
The exchange rate started trading at 1,170.5 won, up 1.4 won, rose to a high of 1,177.0 won, then gave back some of the gains.
Concerns over inflation and tapering (reduction of asset purchases), along with rising U.S. Treasury yields, led to a stronger dollar in the global market.
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As of 3:30 PM, the won-yen recalculated exchange rate was 1,068.17 won per 100 yen, up 4.53 won from the previous trading day's 3:30 PM rate of 1,063.64 won.
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