Won-Dollar Exchange Rate Closes at 1,517.4 Won on Fed Rate Hike Signals

The won-dollar exchange rate fell during overnight trading but rebounded to close at around 1,517 won. This movement was influenced by comments from Christopher Waller, a member of the U.S. Federal Reserve Board, who hinted at the possibility of a rate hike.

As of 2 a.m. on the 23rd, the won-dollar exchange rate closed at 1,517.4 won, up 11.3 won from the previous close on the Seoul foreign exchange market. Compared to the closing price of 1,517.2 won during daytime trading, this marks an increase of 0.2 won.

Yonhap News

Entering the New York session at around 1,517 won, the won-dollar exchange rate saw its upward momentum slow amid expectations of a ceasefire agreement between the United States and Iran. As international oil prices continued to decline, the rate dropped as low as 1,512 won during intraday trading.

However, Board member Waller stated that "I would support removing the 'easing bias' language from the policy statement," adding, "This is to make it clear that future rate cuts are not necessarily more likely than rate hikes." As a result, the exchange rate climbed to 1,518 won.

The intraday high for the exchange rate was 1,519.5 won, while the low was 1,504.7 won. The total fluctuation range was 14.8 won.

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