Korean Won Hits 18-Year High Against Japanese Yen on Booming Chip Exports
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4 Articles
A boom in Korea's semiconductor exports has strengthened the won, pushing it to its highest level against the Japanese yen in 18 years and 9 months, analysts said Wednesday. According to Hana Bank, the won-yen exchange rate fell as low as 844.16 won per 100 yen in intraday trading Wednesday, its lowest level since January 2008, when it stood at 837.58 won. The rate had hovered between 930 and 950 won per 100 yen in early July before falling shar…
With the value of the won rising and the value of the yen falling due to a boom in South Korea's semiconductor exports, the won-yen exchange rate hit 846 won per 100 yen, the lowest level since 2008. Experts analyze that the won's strength will continue given the current account surplus, and forecast that future changes in the asset management policies of Japanese pension funds will be a major variable affecting the yen's trajectory.
The booming semiconductor exports in South Korea have boosted the value of the won, causing the won's exchange rate against the yen to fall to the mid-840 won range (100 yen = 840 won). This is the lowest level in approximately 18 years and 9 months, since January 2008. According to Hana Bank, the yen-won exchange rate fell to 100 yen = 846.28 won during trading hours on the 6th. This is the lowest level since January 2, 2008, when it recorded 8…
The biggest driver of the won's strength is the semiconductor industry; strong chip exports have significantly increased the inflow of foreign currency, especially USD, into South Korea. The South Korean won rose to its highest level since October 2024. The US signaled support for stabilizing the South Korean won. The won weakened, and South Korea's $350 billion investment commitment in the US was also discussed.
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