Won-Dollar Exchange Rate Fluctuates Around 1190 Won... Impact of Euro Weakness
[Asia Economy Reporter Jang Sehee] On the 22nd, the KRW-USD exchange rate started higher.
At 10:03 AM in the Seoul foreign exchange market, the KRW-USD exchange rate was 1,189.8 won, up 4.5 won from the previous trading day's closing price.
The exchange rate opened at 1,190.5 won, up 5.2 won from the previous closing price, fluctuating between 1,188.3 and 1,191.1 won in the early session.
Due to the resurgence of COVID-19 in Europe, the euro sharply declined, causing the dollar to strengthen against most currencies. At the same time, the dollar index surpassed the 96 level.
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Additionally, hawkish remarks from officials of the U.S. Federal Reserve (Fed) increased the preference for safe-haven assets.
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