Exchange Rate Hits Intraday High... KOSPI Rebounds After Five Days

Exchange Rate Hits Intraday High... KOSPI Rises After Five Days

On the 27th, a day before the holiday, the won-dollar exchange rate hit a new high of 1,356 won during the session before narrowing its gains and closing around 1,350 won.

On that day, in the Seoul foreign exchange market, the won-dollar exchange rate closed at 1,349.3 won, up 0.8 won from the previous day.

The exchange rate opened at 1,355.0 won, up 6.5 won, reflecting the global dollar strength overnight, and rose to 1,356.0 won in the early session, quickly surpassing the previous day's record high of 1,349.5 won.

On the 18th, the KOSPI index started with a slight decline. Employees are working in the dealing room of Hana Bank in Myeongdong, Seoul. Photo by Younghan Heo younghan@

Subsequently, concerns over the short-term sharp rise and the stabilization of the yuan's weakness reduced the increase to the high 1,340 won range.

Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho said regarding the new high in the exchange rate, "If speculative flows appear or market instability worsens without any special factors, the authorities will respond."

The KOSPI index closed at 2,465.07, up 0.09%, as foreign selling decreased toward the end of the session, and the KOSDAQ index rose 1.59% to 841.02, marking its first increase in nine trading days.

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