Won-Dollar Exchange Rate Closes Above 1,500 Won for First Time in a Month at 1,500.8 Won

Weekly Closing Price at 1,500.8 Won, Up 9.8 Won from Previous Session
First Weekly Close Above 1,500 Won Since April 7 (1,504.2 Won)

On May 15, the won-dollar exchange rate rose for the sixth consecutive trading session, closing the week above the 1,500-won mark for the first time in about a month.

On the 15th, Samsung Electronics' stock price was displayed on the electronic board in the dealing room of Hana Bank in Jung-gu, Seoul.

On this day, the won-dollar exchange rate in the Seoul foreign exchange market closed at 1,500.8 won as of 3:30 p.m., up 9.8 won from the previous trading day. This is the first time the weekly closing price has exceeded 1,500 won since April 7, when it closed at 1,504.2 won. The exchange rate opened at 1,494.2 won, up 3.2 won, and the increase accelerated in the afternoon, surging to 1,507.7 won at around 2:48 p.m.

Market analysts attribute this to the fact that the U.S.-China summit failed to present a clear breakthrough regarding the Middle East conflict, which in turn heightened risk aversion and a preference for safe-haven assets. In addition, political instability in the UK led to a sharp decline in the British pound, further strengthening the U.S. dollar. Ongoing concerns about inflation, as U.S. inflation indicators exceeded expectations, also supported this trend.

The dollar index, which measures the value of the dollar against the currencies of six major countries, rose 0.28% from the previous trading day to 99.146.

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