On the 25th, the won/dollar exchange rate showed a limited decline in the early trading hours.
As of 9:32 a.m. in the Seoul foreign exchange market on this day, the won-to-dollar exchange rate is 1330.8 won, down 4.0 won from the previous day. The exchange rate is moving around 1330 won after opening at 1331.5 won, down 3.3 won.
The exchange rate seems to be giving back some of the gains from the previous day, affected by the weak dollar that appeared last night. Exporters’ negotiating volume (selling dollars) at the end of the month and growing wariness of the foreign exchange authorities’ fine adjustments after breaking through the tie-in point are putting additional downward pressure on the exchange rate.
However, the extent of the decline is likely to be limited as the won has been weak recently, paying attention to sluggish exports and trade deficits.
Moon Jeong-hee, a researcher at Kookmin Bank, said, “Despite the weak dollar, the won/dollar exchange rate is hardly falling.”
At the same time, the won/yen arbitrage exchange rate is 992.73 won per 100 yen. It fell 1.42 won from the standard price (994.15 won) at 3:30 pm the previous day.
Correspondent Changhyun Lee of Hellotti |
2023-04-25 00:59:20
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