Won-Dollar Exchange Rate Closes at 1,219.8 Won... Won-Yen at 980 Won Level for the First Time in 3 Years and 3 Months

[Image source=Yonhap News]

[Asia Economy Reporter Seo So-jeong] The KRW-USD exchange rate closed lower amid expectations of progress in negotiations between Russia and Ukraine.

On the 29th, in the Seoul foreign exchange market, the KRW-USD exchange rate closed at 1,219.8 won, down 7.5 won from the previous trading day.

The exchange rate opened at 1,223.0 won, down 4.3 won, and declined as risk appetite revived due to hopes for progress in negotiations between Russia and Ukraine, along with dollar selling (negotiation) by exporters at the end of the month.

The easing of the sharp rise in international oil prices also had an impact. On the previous day at the New York Mercantile Exchange, the May West Texas Intermediate (WTI) crude oil price closed at $105.96 per barrel, down about 7% from the previous session.

The KRW-JPY recalculated exchange rate fell to the 980 won per 100 yen level. As of 3:30 PM, the KRW-JPY recalculated exchange rate was 988.13 won per 100 yen, marking the first time in 3 years and 3 months since December 5, 2018 (985.45 won) that it fell to the 980 won per 100 yen level as of the 3:30 PM reference price.

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