Won-Dollar Exchange Rate Fluctuates Around 1180 Won... "Watching FOMC Outcome"
[Asia Economy Reporter Jang Sehee] On the 3rd, the won-dollar exchange rate in the Seoul foreign exchange market is recording around 1180 won.
At 10:08 a.m. that day, the won-dollar exchange rate was 1180.4 won, 6.0 won higher than the previous day's closing price. The exchange rate opened at 1178.5 won, up 4.1 won, and has been fluctuating around 1180 won. This is due to increased caution following the Federal Open Market Committee (FOMC) meeting.
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Oh Changseon, a researcher at Hyundai Motor Securities, explained, "We are paying close attention to the results of the FOMC meeting scheduled for the 4th," adding, "The rise in the exchange rate in the New York offshore non-deliverable forward (NDF) market the previous day also had an impact." The exchange rate closed at 1179.7 won in the NDF market last night.
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