Won-Dollar Exchange Rate Closes at 1357.4 Won, Up 7.8 Won... Impact of Foreign Investors' Stock Market Selling (Update)

On the 19th, the won-dollar exchange rate closed higher for the first time in three days.

According to the Seoul foreign exchange market on that day, the won-dollar exchange rate closed at 1,357.4 won, up 7.8 won from the previous day.

The exchange rate opened at 1,356 won, up 6.4 won from the previous day, and fluctuated around the 1,350 won level.

Foreign investors net sold about 155.4 billion won in the KOSPI market that day, which exerted upward pressure on the exchange rate.

The Bank of Korea's Monetary Policy Committee held a monetary policy meeting that day and kept the base interest rate unchanged at 3.50% per annum. The Bank of Korea has maintained this freeze for the sixth consecutive time since February.

According to Lee Chang-yong, Governor of the Bank of Korea, among the six Monetary Policy Committee members excluding the governor, five expressed the opinion that the possibility of a base rate hike should be kept open over the next three months, while one minority opinion suggested that the possibility of a rate cut should also be kept open.

[Image source=Yonhap News]

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