On the 21st, the won-dollar exchange rate started at 1,420 won due to the weakness of the U.S. dollar.
On that day in the Seoul foreign exchange market, the won-dollar exchange rate started at 1,420 won, which was down 3.3 won from the previous trading day's weekly transaction close (based on 3:30 p.m.). After the opening, the exchange rate widened its decline, recording 1,419.7 won as of 9:41 a.m.
U.S. President Donald Trump is putting pressure on Jerome Powell, chair of the U.S. Federal Reserve (Fed), not to cut the benchmark interest rate, causing the dollar to weaken.
According to Investing.com, the dollar index, which indicates the dollar's value against six major currencies, recorded 98.61 as of 9:42 a.m. It fell below 100 earlier this month and has now breached the 99 line. This is the lowest level since April 2022.
Woo Jae-hyun, an economist at NH Futures, noted, “Today, the won-dollar exchange rate is expected to follow the weak dollar and drop to the mid-1,410s,” adding that “the payment of dividends to foreign shareholders by domestic corporations, which was concentrated last week, has settled down, and there is not much dollar buying pressure.”