Korean Won Strengthens on Dollar Sales, Risk-Taking Mood
5 Articles
5 Articles
Korean won strengthens on dollar sales, risk-taking mood
The Korean won strengthened against the U.S. dollar Monday, helped by dollar selling by local exporters and a risk-taking mood as artificial intelligence-related jitters showed some signs of easing. The won was quoted at 1,347.1 won per dollar at 3:30 p.m., up 9.5 won from the close of the previous stock trading session. At one point in the afternoon trading, the Korean currency climbed to a high of 1,346.7 won per dollar before trimming some ga…
The won-dollar exchange rate showed a downward trend on the 9th, despite net selling of domestic stocks by foreign investors. This appears to have reversed the sharp rise seen immediately following the U.S. midterm elections. On this day, the won-dollar exchange rate in the Seoul foreign exchange market closed the week at 1,347.1 won against the U.S. dollar, down 9.5 won from the previous trading day. The exchange rate rose 6.4 won.
The won-dollar exchange rate closed the week at 1,347.1 won at 3:30 p.m. on the 9th. This was down 9.5 won (0.7%) from the previous day's weekly closing price. Although it hit the 1,350 won level—the highest in a month—on the 6th, it fell back to the 1,340 won range in just one day. The exchange rate moved contrary to market expectations that it could rise to the 1,360 won range. This is our
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