Dollar-Won Trades in Mid-1,460 Range in New York Session

(Seoul=Yonhap Infomax) Jung Won Yoon – The dollar-won exchange rate traded in the mid-1,460 won range during the New York session.

As of 21:42 KST on the 25th in the foreign exchange market, the dollar-won rate stood at 1,465.50 won, down 11.60 won from the previous session.

The dollar-won closed regular trading at 1,472.40 won, up 4.70 won from the previous day.

This marks the first decline in seven sessions on a closing basis.

The move was attributed to the authorities’ commitment to stabilizing the market and increased dollar selling by exporters.

During London trading hours, the dollar-won rate briefly fell to as low as 1,464.50 won.

Market participants noted that expectations for remarks from Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol, who is scheduled to hold a press briefing on the 26th regarding recent economic and foreign exchange market developments, exerted downward pressure on the dollar-won rate.

Entering the New York session, the rate pared some of its losses and was trading in the mid-1,460 won range.

Meanwhile, key U.S. economic indicators—including the ADP weekly employment change, September Producer Price Index (PPI), September retail sales, October pending home sales index, November Conference Board Consumer Confidence Index, and November Richmond Fed manufacturing and services indices—are set to be released later tonight.

The dollar index was recorded at 99.994.

At the same time, the dollar-yen rate was down 0.367 yen at 156.456 yen, while the euro-dollar rate was up 0.00307 dollars at 1.15528 dollars. The offshore dollar-yuan rate was quoted at 7.0825 yuan.

jwyoon2@yna.co.kr

(End)