Won/dollar exchange rate declines on reversing the strong dollar… 1,095 won

(Seoul = Yonhap News) Reporter Kim Yeon-jeong = On the 13th, the won/dollar exchange rate closed down after 5 trading days.

On that day, the exchange rate of won/dollar in the Seoul foreign exchange market fell 4.8 won to 1,095.1 won per dollar.

The exchange rate started at 1,094.1 won, down 5.8 won from the previous day. Since then, it has moved between the 1,093-1,096 won ranges without significant volatility.

The rise in US Treasury yields slowed and the dollar reversed the recent bullish trend, putting downward pressure on the won/dollar exchange rate.

The US Treasury bond yield, which recently led the strong dollar, plunged after strong demand was confirmed in the US Treasury Department’s $38 billion 10-year bidding, leading the dollar decline.

Until now, expectations for the next US administration’s strong fiscal stimulus measures and the possibility of reducing quantitative easing have led to a trend of rising US Treasury yields.

Samsung Futures researcher Jeon Seung-ji explained, “Today’s won/dollar exchange rate showed a downward trend reflecting the fall in the dollar value.”

Foreigners, who had been on net selling for the past two days, net bought about 199.4 billion won worth of stocks in the stock market on that day, boosting the exchange rate decline.

The KRW/JPY fiscal exchange rate is 1,056.08 KRW per 100 yen at 3:30 pm. It was 0.87 won higher than the standard price (1,055.21 won) at 3:30 the previous day.

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2021/01/13 15:38 sent