Won-Dollar Exchange Rate Closes at 1336.8 Won... Declines After Four Days (Update)

The won-dollar exchange rate showed a decline for the first time in four days.

According to the Seoul foreign exchange market on the 22nd, the won-dollar exchange rate closed at 1,336.8 won, down 2.9 won from the previous day.

Amid growing concerns over the prolonged high interest rates by the U.S. Federal Reserve (Fed), the exchange rate opened at 1,341.0 won, up 1.3 won from the previous trading day, and rose to 1,341.3 won shortly after opening. It then reversed to a decline following the yuan's strength.

Meanwhile, the yen weakened as the Bank of Japan announced it would maintain its monetary easing policy on the same day.

At the Monetary Policy Meeting, the Bank of Japan decided to keep the short-term interest rate at -0.1% and continue its large-scale monetary easing policy aimed at guiding the 10-year government bond yield, a long-term interest rate indicator, to around 0%.

At a press conference, Japanese Finance Minister Suzuki Shunichi said regarding the deepening yen depreciation, "We are watching with high tension," and added, "We will not exclude any options and will respond appropriately to excessive fluctuations."

As of 3:30 p.m., the won-yen recalculated exchange rate stands at 902.48 won per 100 yen.

[Image source=Yonhap News]

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