Won-Dollar Exchange Rate Back to 1350 Won Range... US Q3 GDP Growth Rate Pending (Update)

The won-dollar exchange rate has risen back to the 1,350 won level.

According to the Seoul foreign exchange market on the 26th, as of 9:10 a.m., the won-dollar exchange rate is 1,353.7 won, up 4.0 won from the previous day.

[Image source=Yonhap News]

The exchange rate, which started the day at 1,353.4 won, up 3.7 won, is showing an upward trend influenced by the rise in U.S. Treasury yields.

Overnight, the yields on the U.S. 10-year and 30-year Treasury bonds rose by 13 basis points (1bp = 0.01 percentage points) and 15 basis points, reaching 4.96% and 5.09%, respectively.

The market is focusing on the U.S. third-quarter Gross Domestic Product (GDP) growth rate scheduled to be announced in the afternoon.

In a prior survey of economists conducted by Bloomberg News, the median forecast for U.S. third-quarter growth was 4.3%, significantly exceeding the first quarter (2.2%) and second quarter (2.1%) growth rates this year. If the growth rate surpasses expectations, it could increase the possibility of further interest rate hikes in the U.S.

On the same day, the Bank of Korea announced that the real GDP growth rate for the third quarter of this year (compared to the previous quarter) was 0.6%. Although this marks positive growth for three consecutive quarters, it remains uncertain whether the Bank of Korea's annual growth forecast of 1.4% will be achieved.

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