Won–dollar exchange rate settles in the 1,300 won range, holding for six straight trading days

[Financial News] On the 26th, the won–dollar exchange rate ended daytime trading at 1,384.8 won, down 1.3 won from the previous session. It has stayed in the 1,300 won range for six consecutive trading days since the 19th.
Foreign investors have been leaving the domestic stock market, but the exchange rate reversed course as exporters rushed in with dollar-selling orders, starting with expectations of won conversion formed after SK hynix's American Depositary Receipt (ADR) listing in the U.S.
Dollar selling tied to the large-scale shareholder returns from Samsung Electronics and SK hynix is also helping push the exchange rate lower. In addition, expectations of tightening by the Federal Reserve System (Fed) have eased, while the Bank of Korea's Monetary Policy Board has entered an interest-rate hike cycle.

[email protected] Kim Tae-il Reporter