[Seoul Foreign Exchange Market]Dollar-Won Hits Five-Day Low—Caution Ahead of Deputy Prime Minister's Briefing, Hopes for Russia-Ukraine Ceasefire

(Seoul=Yonhap Infomax) Sun Young Jung – The dollar-won exchange rate fell to the 1,460 won level.

As of 09:13 KST on the 26th, the dollar-won rate was trading at 1,463.60 won, down 8.80 won from the previous session in the Seoul foreign exchange market.

The rate dropped to as low as 1,463.00 won at the open, marking its lowest level in five trading days since the 19th.

Market participants cited increased expectations for a ceasefire between Russia and Ukraine, as well as renewed prospects for U.S. Federal Reserve rate cuts, as key factors driving the move.

Heightened caution over potential intervention was evident in the market today.

Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol is scheduled to hold a press briefing on foreign exchange market stabilization at 10:00 AM KST.

Reflecting both intervention concerns and risk-on sentiment, the dollar weakened from the opening bell.

“There appears to be ample supply in the market, with persistent offers in the MAR market. The atmosphere is cautious ahead of the Deputy Prime Minister’s briefing,” said a foreign exchange dealer at a local bank.

“The rate could fall below the 1,460 won level, depending on the Deputy Prime Minister’s remarks,” the dealer added.

The U.S. Dollar Index hovered at 99.83, remaining below the 100 mark amid reports of an imminent peace agreement in the Russia-Ukraine conflict.

At the same time, the dollar-yen rate rose 0.06 yen to 156.16 yen, while the euro-dollar rate edged up 0.0001 dollars to 1.1560 dollars.

The yen-won cross rate stood at 937.01 won per 100 yen, and the yuan-won rate was 206.53 won.

South Korea’s benchmark KOSPI index gained 0.6%, while foreign investors were net sellers of 79.3 billion won ($59.5 million) in the main stock market.

Offshore dollar-yuan (CNH) fell to 7.0837 yuan.

syjung@yna.co.kr

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Trend Analysis: The dollar-won exchange rate has reached its lowest level in five trading days, reflecting both global risk sentiment and local intervention concerns. The market is closely watching official comments for further direction.