Narrowing U.S.-Korea rate gap leaves won–dollar exchange rate in the 1,300 won range for 8 straight trading days

[Financial News] On the 28th, the won–dollar exchange rate closed the week’s trading at 1,372.5 won, down 8.4 won from the previous session. It has stayed in the 1,300 won range for eight consecutive trading days since the 19th.
Although foreign investors have been pulling out of the domestic stock market, the exchange rate trend reversed as exporters rushed in with settlement orders to sell dollars, starting with expectations of won conversion after SK hynix’s listing of its American Depositary Receipt (ADR) in the United States.
The move also appears to have been influenced by the Bank of Korea’s Monetary Policy Board raising the benchmark rate by 0.25 percentage point for a second straight meeting, following July, which narrowed the policy rate gap between South Korea and the United States to 0.75 percentage point.
[email protected] Kim Tae-il Reporter