The won-dollar exchange rate remains in the 1410 won range.
As of 10:27 a.m. in the Seoul foreign exchange market, the exchange rate is 1,413.4 won against the U.S. dollar. Earlier in the morning, the rate was trading at 1,418.3 won, down 0.1 won from the previous session.
Overnight, U.S. stocks fell amid uncertainty surrounding negotiations between the U.S. and Iran regarding the reopening of the Hormuz Strait. The Dow Jones Industrial Average closed down 60.95 points (-0.11%) at 53,975.98.
The Standard & Poor's 500 index fell 4.53 points (-0.06%) to finish at 7,753.11, while the Nasdaq Composite dropped 85.26 points (-0.32%) to close at 26,605.36.
International oil prices showed an upward trend. October futures for Brent crude rose 1.29% to $83.55 per barrel, while September futures for West Texas Intermediate (WTI) increased by 1.15% to $78.18.
The dollar index, which measures the value of the dollar against six major currencies, fell by 0.38% to 99.60.
Min Kyung-won, an economist at Woori Bank, stated, "The exchange rate is expected to rise due to the increase in international oil prices stemming from the stalled negotiations over the reopening of the Hormuz Strait and a strong dollar. However, the export and heavy industry companies' deferred negotiation volumes are likely to support the upper limit of the exchange rate."
* This article has been translated by AI.
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