[Seoul Foreign Exchange Market]Asian Currencies Weaken, Foreign Investors Turn Net Sellers—Dollar-Won Rebounds 0.70 Won

(Seoul=Yonhap Infomax) Ji Yeon Kim – The dollar-won exchange rate reversed earlier losses to climb into the mid-1,470 won range, as Asian currencies weakened and foreign investors shifted to net selling of South Korean equities.

As of 13:37 KST on the 24th, the dollar-won was trading at 1,476.30 won, up 0.70 won from the previous session in the Seoul foreign exchange market.

The session opened at 1,472.00 won, down 3.60 won from the previous day. Early in the session, the pair dipped to a low of 1,468.70 won on expectations that the US Federal Reserve could cut rates in December.

However, risk-off sentiment drove increased settlement demand at the lower end, narrowing losses as the session progressed.

The KOSPI index trimmed gains, and foreign investors turned net sellers in the main board, prompting the dollar-won to rebound in afternoon trading. The rate briefly touched 1,476.70 won, marking its highest level since April 9 (1,487.60 won).

Further upside was capped by caution over potential intervention by South Korean foreign exchange authorities.

During Asian trading hours, the dollar index edged higher, while the Japanese yen, Chinese yuan, and Taiwan dollar all weakened against the greenback. Market participants noted that the won faced particularly strong depreciation pressure.

“There are no notable factors, but settlement demand is quite strong,” said a foreign exchange dealer at a securities firm. “With substantial buy-side demand accumulating, the level is not falling easily.”

HD Hyundai Heavy Industries Co. announced it secured an order for eight container ships from HMM Co., valued at approximately 2.13 trillion won ($1.6 billion). Hanwha Ocean Co. disclosed a contract to build four very large crude carriers (VLCCs) for an African shipowner, worth 757.7 billion won ($570 million).

Japanese financial markets were closed for Labor Thanksgiving Day.

Later tonight, the US October Chicago Fed National Activity Index and November Dallas Fed Manufacturing Activity Index will be released.

In the currency futures market, foreign investors were net buyers of nearly 5,000 dollar contracts.

The dollar index rose to 100.18.

The KOSPI gained 0.17%, while foreign investors net sold 52.1 billion won ($39 million) in the main board.

At the same time, the dollar-yen was quoted at 156.580 yen, up 0.206 yen from New York, and the euro-dollar at 1.15170, up 0.00012.

The yen-won cross rate stood at 942.75 won per 100 yen, while the yuan-won rate was at 207.00 won.

The offshore dollar-yuan (CNH) rate climbed to 7.1096 yuan.

Exchange Rate Data Table

Trend Analysis: The dollar-won exchange rate reached its highest level since April 2025, reflecting persistent weakness in the won amid broad-based Asian currency depreciation and foreign outflows from South Korean equities. Caution over possible intervention by authorities limited further gains.

jykim2@yna.co.kr

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