North Korea Risk Minimal... Won-Dollar Exchange Rate Around 1188 Won

Market: "Impact of 'Progress in Inter-Korean Relations' under Moon Administration"
Early session around 1188 won

On the 20th, dealers were busy working in the dealing room of Hana Bank in Euljiro, Seoul. On the same day, the KOSPI opened at 2842.28, unchanged from the previous trading day. The won-dollar exchange rate started at 1189.5 won, down 2.2 won. Photo by Moon Honam munonam@

[Asia Economy Reporter Jang Sehee] On the 20th, the KRW-USD exchange rate is maintaining the high 1188 won level in the early trading session.

As of 9:17 a.m. in the Seoul foreign exchange market, the KRW-USD exchange rate is 1188.8 won, down 2.9 won from the previous day's closing price.

The exchange rate opened at 1189.5 won, down 2.2 won, and is maintaining a downward trend in the early session. North Korea's remarks suggesting a reconsideration of the suspension of nuclear tests and intercontinental ballistic missile (ICBM) launches do not seem to be having a significant impact on domestic and international financial markets yet.

Jeon Gyu-yeon, a researcher at Hana Financial Investment, said, "There has been a rapid advancement in relations with North Korea under the Moon Jae-in administration," adding, "Since the inter-Korean tension itself has not escalated, the impact on the stock and foreign exchange markets is expected to be limited."

North Korea previously indicated that it might lift the suspension measures on nuclear and missile tests.

Meanwhile, the Bank of Korea plans to monitor future financial market trends. A Bank of Korea official stated, "No official meetings are currently scheduled, but we are monitoring the situation in real time."

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