Won-Dollar Exchange Rate Surpasses 1,440 Won... New High Reached (Update)

[Asia Economy Reporter Seo So-jeong] The won-dollar exchange rate surpassed 1,440 won, setting a new yearly high.

According to the Seoul foreign exchange market on the 28th, the won-dollar exchange rate rose to 1,440.10 won at around 11:21 a.m., breaking the yearly high once again. This is the highest level since March 16, 2009 (1,488.0 won) based on the intraday high.

The exchange rate, which started 4.0 won higher than the previous day, is on an upward trend due to the sharp decline of the Chinese yuan.

An official from the foreign exchange market said, "The yuan, which shows a synchronized movement with the won, has sharply fallen, causing a simultaneous weakening," adding, "As the strong dollar intensifies and the preference for safe-haven assets strengthens, this is leading to an increase in the exchange rate."

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