Trump's Election Victory Pushes Intraday Exchange Rate Above 1400 Won
The won-dollar exchange rate surpassed 1,400 won, marking the highest level in seven months.
On the 6th, in the Seoul foreign exchange market, the won-dollar exchange rate rose to the 1,402 won level as of 9:25 PM.
This is the first time in about seven months since mid-April that the intraday exchange rate exceeded 1,400 won.
Based on the closing price at 3:30 PM, it is the highest level in about two years since November 2022.
On this day, the exchange rate surged following the confirmation of Donald Trump’s victory in the U.S. presidential election.
Trump, as a candidate, promoted tariffs and America-first policies, leading to a stronger dollar.
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Former President Trump had stated that if elected in this election, he would impose a 60% tariff on Chinese products as well as a general tariff of 10?20% on all imports.
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