\r\n [Financial News] The won–dollar exchange rate has climbed back above the 1,500-won level for the first time in about a month. The move was driven by a stronger U.S. dollar after a shockingly high inflation reading, a sharp drop in domestic stocks, and heavy selling by foreign investors, which together weakened the won. On the 15th, the won–dollar exchange rate closed at 1,500.8 won in the Seoul Foreign Exchange Market, up 9.8 won from the previous session's daytime closing level. It was the first time since last month that the rate had finished above 1,500 won. The rate opened at 1,494.2 won and fluctuated in the 1,490-won range early in the session. But the gains widened quickly in the afternoon, and the rate briefly broke above 1,500 won during trading. It was the first time in about a month that the intraday rate had exceeded 1,500 won, since the 7th of last month. The won–dollar exchange rate had fallen to as low as 1,454.0 won on a closing basis on the 7th of this month, but it has since been on an upward trend. Market participants said the stronger dollar was fueled by expectations of interest-rate cuts from the Federal Reserve System (Fed) weakening after U.S. inflation data came in hotter than expected. In fact, the U.S. Dollar Index (DXY), which measures the dollar's value against six major currencies, was trading around 99.131, up 0.27% from the previous session. As demand for the dollar strengthened in the global foreign exchange market, Asian currencies, including the won, came under broad pressure. Uncertainty in the domestic stock market also added to the rise in the exchange rate. The KOSPI Composite Index briefly rose above the 8,000 level during the session, but it reversed sharply in the afternoon and closed at 7,493.18, down 6.12% from the previous session. In particular, foreign investors posted net selling of more than 5 trillion won on the Korea Exchange Main Board, increasing downward pressure on the won. As foreign capital outflows accelerated, demand for dollars in the foreign exchange market also appears to have risen. imne@fnnews.com Hong Ye-ji Reporter