Won-Dollar Exchange Rate Pauses After Hitting New High... Closes at 1322.8 Won

Seoul Jung-gu Hana Bank Headquarters Dealing Room [Photo by Yonhap News]

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The won-dollar exchange rate rose to a new yearly high before closing in the low 1320 won range.

On the 20th, in the Seoul foreign exchange market, the won-dollar exchange rate closed at 1322.8 won, down 2.9 won from the previous trading day.

On that day, the exchange rate opened at 1329.5 won, up 3.8 won from the previous day, hitting a new yearly high, then fluctuated in the high 1320 won range.

It rose to the highest level in about five months since November 29 last year (1342.0 won).

This was due to growing global tightening concerns after the UK's March Consumer Price Index (CPI) rose 10.1% year-on-year, exceeding market expectations (9.8%).

However, the upward trend in the exchange rate was somewhat curbed after Germany's March Producer Price Index (PPI) released in the afternoon rose 7.5% year-on-year, falling short of market expectations (9.8%).

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