Won-Yen Exchange Rate Closes Below 800 Won for the First Time in 8 Years

897.69 won... Down 3.9 won from the previous day
First time since June 2015

As the unprecedented 'weak yen' continues, the won-yen (per 100 yen) revaluation rate fell to the 800-won range on the 5th.

Yen and Dollar at the Counterfeit Response Center of Hana Bank Headquarters in Jung-gu, Seoul [Image source=Yonhap News]

At 3:30 PM, when the Seoul foreign exchange market closed that day, the won-yen revaluation rate recorded 897.69 won. This was down 3.9 won from the previous day's rate of 900.78 won at the same time. It is the first time in over eight years since June 2015 that the won-yen revaluation rate has fallen into the 800-won range.

The U.S. Wall Street Journal (WSJ) analyzed, "The significant volatility of the yen is due to the Bank of Japan's monetary policy, which contrasts with those of major countries," adding, "The yen, approaching 145 per dollar, may be a warning sign regarding monetary policy."

The Bank of Japan maintains its ultra-low interest rate policy, keeping the short-term interest rate at -0.1% and guiding the 10-year government bond yield, a long-term interest rate indicator, to around 0%.

Meanwhile, the won-dollar exchange rate closed at 1,298.60 won, down 2.80 won from the previous day.

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