Global Dollar Weakens... Won-Dollar Exchange Rate Closes at 1,483.1 Won

Amid ongoing uncertainty in the Middle East, the global dollar has been showing a weakening trend, leading the won-dollar exchange rate to close the week at around 1,480 won.

On the 18th, the current status of the domestic stock market is displayed on the electronic board in the dealing room of Hana Bank, Jung-gu, Seoul.

On March 18, the weekly closing price (as of 3:30 p.m.) for the won-dollar exchange rate on the Seoul foreign exchange market was 1,483.1 won, down 10.5 won from the previous trading day. The exchange rate opened at 1,487.0 won, down 6.6 won, then trimmed its losses to 1,489.1 won around 9:40 a.m., but widened its decline again, falling to 1,482.4 won just before the close.

The dollar index, which measures the value of the U.S. dollar against the currencies of six major countries, stood at 99.536. After reaching 100.537 on the 13th, the dollar index has been on a downward trend for three consecutive days.

With the announcement of the U.S. Federal Open Market Committee (FOMC) policy rate decision scheduled for early morning on March 19 (Korean time), the market has taken a wait-and-see approach. The prevailing view is that the upper-bound rate will remain unchanged at 3.75%. The main focus is on the U.S. Federal Reserve's assessment of the war involving Iran.

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