NDF Falls to 1,463.20/1,463.60 Won—Down 6.65 Won

(Seoul=Yonhap Infomax) Ji Yeon Kim – The one-month dollar-won non-deliverable forward (NDF) contract declined in the New York market.

According to overseas brokers on the 26th, the one-month dollar-won NDF was last quoted at 1,463.40 won (mid) overnight.

Taking into account the latest one-month swap point of -2.35 won, this represents a decrease of 6.65 won from the previous session’s closing spot rate in the Seoul foreign exchange market (1,472.40 won).

The bid was at 1,463.20 won, and the ask at 1,463.60 won.

The US dollar weakened, falling into the 99 range, as markets digested weaker-than-expected US employment and consumption data, as well as renewed hopes for a ceasefire between Russia and Ukraine.

According to private employment data provider ADP, preliminary US private sector employment for the four weeks ending on the 8th of this month declined by an average of 13,500 jobs per week.

US retail sales for September, seasonally adjusted, rose 0.2% month-on-month to $733.3 billion, missing market expectations of a 0.4% increase.

Additionally, news that Kevin Hassett, Chairman of the White House National Economic Council (NEC) and a proponent of rate cuts, is a leading candidate for the next Federal Reserve (Fed) Chair, also weighed on the dollar.

Meanwhile, US President Donald Trump commented on the Russia-Ukraine ceasefire agreement via his social media, stating, "The original 28-point peace plan drafted by the US has been refined to reflect additional input from both sides, and only a few differences remain."

At the close of trading, the dollar index fell to 99.838.

The dollar-yen rate stood at 156.096 yen, while the euro-dollar rate was at 1.15649. The dollar-offshore yuan (CNH) rate was 7.0846 yuan.

jykim2@yna.co.kr

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