Won-Dollar Exchange Rate Surges to 1355.1 Won... Hits New Yearly High Again (Update)

[Image source=Yonhap News]

[Asia Economy Reporter Seo So-jung] The won-dollar exchange rate surged to the mid-1350 won range, setting a new record high once again.

On the 1st, in the Seoul foreign exchange market, the won-dollar exchange rate soared to 1355.1 won at 12:50 PM, raising the peak, and was moving around the 1353 won level by 3 PM.

The exchange rate opened at 1342 won, up 4.4 won for the day, and during the session rose to 1355.1 won, surpassing the previous day's intraday record high of 1352.3 won in just one day. This is the highest level in 13 years and 4 months since April 29, 2009 (intraday 1357.5 won).

A foreign exchange market official said, "It seems that the news of South Korea's trade deficit approaching 10 billion dollars this month, marking an all-time high, has affected market sentiment," adding, "As foreigners sell spot and futures, the stock market is declining, and with concerns over a Europe-origin energy crisis and the resumption of lockdowns in Chinese cities, the euro and yuan are weakening, leading to a continued strong dollar."

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