Won-Dollar Exchange Rate Closes at 1218.8 Won... Dollar Strength Eases Following BOJ Governor's Remarks

[Image source=Yonhap News]

[Asia Economy Reporter Seo So-jung] The won-dollar exchange rate closed steady on the 25th.

On that day, in the Seoul foreign exchange market, the won-dollar exchange rate ended trading at 1,218.8 won per dollar, the same as the previous day's closing price.

The exchange rate opened at 1,221.0 won, up 2.2 won from the previous day's close, then turned downward to reach a low of 1,216.5 won before closing at the same level as the previous day's close due to settlement (dollar buying) demand inflow before the market closed.

In the morning, the dollar's strength eased following verbal intervention remarks by Haruhiko Kuroda, Governor of the Bank of Japan (BOJ). Governor Kuroda emphasized exchange rate stability and stated that rapid changes in the exchange rate are not an ideal situation.

As of 3:30 PM, the won-yen recalculated exchange rate stood at 1,000.21 won per 100 yen, down 3.04 won from the previous day's 3:30 PM reference price of 1,003.25 won.

A foreign exchange market official said, "The decline in the dollar index limited the dollar's strength today, so the exchange rate moved according to supply and demand trends," and added, "The dollar's weakness in the Asian market was influenced by the BOJ Governor's verbal intervention, which helped the yen recover some of its losses." He also said, "With ongoing geopolitical risks, exchange rate volatility is expected to continue for the time being."

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