Won/Dollar Exchange Rate Closes at 1228 Won... Declines After 6 Trading Days

US Consumer Price Index Surges 8.5%

[Image source=Yonhap News]

[Asia Economy Reporter Park Jun-yi] On the 13th, the won/dollar exchange rate fell for the first time in six trading days.

On that day, in the Seoul foreign exchange market, the won-to-dollar exchange rate closed at 1,228 won per dollar, down 8.2 won from the previous day's closing price.

The exchange rate opened at 1,229.5 won, 6.7 won lower than the previous day, and during the session, due to selling pressure from foreigners and institutions, it briefly dropped to 1,224.7 won before partially recovering the decline.

The U.S. Consumer Price Index (CPI) for March, announced overnight, rose sharply by 8.5% compared to the same month last year, marking the largest increase in about 40 years.

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