Won-Dollar Exchange Rate Drops to 1,300 Won Range, Lowest in 10 1/2 Months
6 Articles
6 Articles
The won-dollar exchange rate fell below the 1,400 won mark for the first time in about 11 months, returning to the 1,300 won range. This follows a reduced likelihood of a September interest rate hike by the Federal Reserve due to slowing U.S. inflation data, coupled with a flood of dollar selling by exporters.
Won-dollar exchange rate drops to 1,300 won range, lowest in 10 1/2 months
The won-dollar exchange rate fell to the 1,300 won range for the first time in 10 1/2 months Wednesday, amid expectations that the U.S. Federal Reserve will keep its benchmark interest rate unchanged, along with increased dollar selling by exporters. The won was trading at 1,399 won to the U.S. dollar as of 12:02 pm in Seoul's foreign exchange market. The rate opened at 1,413.3 won and continued to decline throughout the session.
(Sejong=Yonhap News) Reporter Kim Soo-hyun = As the view that the U.S. Federal Reserve (Fed) will not raise the benchmark interest rate next month gains traction, exporters'...
The won-dollar exchange rate against the US dollar stood at 1,413.5 won at 9:00 AM on the 19th. This represents an increase of 1.7 won (0.12%) from the closing price of the previous trading day. Forecasts suggest the exchange rate could rise to the high 1,410s today, as foreign investors may continue net selling in the domestic stock market. The KOSPI opened today at 6,528.77, down 4.96%. Overnight in the New York stock market
TD Securities Stays Bearish On South Korean Won, Sees 1,400 As Key Support
BitcoinWorld TD Securities Stays Bearish on South Korean Won, Sees 1,400 as Key Support TD Securities maintains a bearish outlook on the South Korean won, identifying the 1,400 level against the US dollar as a critical support zone, according to a recent note from the firm. What is driving the bearish view on the won? The bearish stance from TD Securities is based on a combination of external and domestic factors that are likely to keep the Kor…
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