KRW-USD Exchange Rate Drops to 1,360-Won Level for First Time in 13 Months (Update)

1,368.6 Won as of 3:30 p.m., Down 3.9 Won from Previous Close
Lowest Level Since July 8 Last Year (1,367.9 Won)

On August 31, the KRW-USD exchange rate dropped to the 1,360-won range, marking the first time in about 13 months since July 8 last year.

On the 31st, the status board in the dealing room at Hana Bank headquarters in Jung-gu, Seoul, displays the KOSPI and the KRW-USD exchange rate. Photo by Yonhap News Agency

On this day, the Seoul foreign exchange market recorded a closing KRW-USD exchange rate of 1,368.6 won as of 3:30 p.m., down 3.9 won from the previous session. As of 3:30 p.m., this is the lowest level since July 8 last year, when it stood at 1,367.9 won.

The exchange rate opened at 1,380.0 won and rose to 1,380.5 won in the early session. However, losses accelerated thereafter, and by around 3:22 p.m., it had dropped to 1,367.9 won. Based on intraday lows, this is the lowest level since July 24 last year, when it reached 1,365.1 won.

In the afternoon, a surge in dollar-selling orders fueled the decline in the exchange rate. There is analysis that both foreign bond capital and dollar-selling orders simultaneously influenced the market.

The dollar index, which measures the value of the U.S. dollar against the currencies of six major countries, fell by 0.086 to 99.622.

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