Amid Growing Inflation Concerns... Exchange Rate at 1181 Won Level

[Asia Economy Reporter Jang Sehee] On the 16th, the won-dollar exchange rate started on an upward trend due to inflation concerns.

As of 9:43 AM in the Seoul foreign exchange market, the won-dollar exchange rate is 1,181.9 won per dollar, up 3.5 won from the previous day's closing price.

The exchange rate began trading at 1,183.0 won, up 4.6 won, and remained steady in the early session. The strong dollar trend appeared as inflation concerns spread again.

Overnight, the U.S. announced the November Empire State Index at 30.9, a significant increase from 19.8 the previous month. This indicator, which shows manufacturing activity in New York State, showed strength, and as the price acceptance index recorded an all-time high, inflation caution increased.

Accordingly, in the New York offshore non-deliverable forward (NDF) market, the exchange rate was finally quoted at 1,184.5 won. The dollar index, which reflects the value of the dollar against six major currencies, rose to 95.596 at the same time, marking the highest closing level in about 16 months since July 20 last year (93.832).

Meanwhile, the won-yen recalculated exchange rate is 1,036.14 won per 100 yen. It rose 1.41 won from the previous day's 3:30 PM reference price (1,034.73 won).

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