Won-Dollar Exchange Rate Surpasses 1200 Won Intraday... Closes at 1198.8 Won
[Asia Economy Reporter Jang Sehee] On the 12th, the KRW-USD exchange rate closed just below 1200 won.
On this day, in the Seoul foreign exchange market, the won-dollar exchange rate closed at 1198.8 won per dollar, up 4.2 won from the previous trading day's closing price. This is the highest level in about 1 year and 2 months since it closed at 1201.5 won on July 24 last year.
The exchange rate started trading at 1196.0 won and showed an upward trend from early in the session. About 10 minutes after the Bank of Korea announced that it would keep the base interest rate at 0.75%, the rate entered the "big figure" 1200 won range around 10 a.m. that day. The exchange rate rising to the 1200 won range is the first time since July 28 last year (1201.0 won).
However, in the afternoon, it gradually calmed down and entered a pause.
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Meanwhile, concerns about inflation spreading worldwide are acting as a source of instability in the financial markets, and there is a forecast that the strong dollar trend will continue for the time being.
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