The won-dollar exchange rate is currently trading at 1359 won.
As of 10:14 a.m. on September 29, the exchange rate in the Seoul foreign exchange market is 1359.4 won against the U.S. dollar. This marks a decrease of 5.2 won from the previous day's closing rate of 1359.9 won, based on the morning's 6 a.m. figures.
The slight decline appears to be linked to a stronger dollar overnight, coupled with exporter negotiations (dollar sales). The dollar index (DXY), which reflects the value of the dollar against six major currencies, rose by 0.21% to 101.219.
U.S. stock markets fell across the board due to rising Treasury yields. On September 28, the Dow Jones Industrial Average closed down 347.11 points (0.67%) at 51,481.51.
The S&P 500 index dropped 59.72 points (0.77%) to close at 7,683.69, while the tech-heavy Nasdaq Composite fell 248.34 points (0.92%) to finish at 26,820.38.
International oil prices surged after the U.S. rejected Iran's 'seven-day plan' proposal to reopen the Strait of Hormuz, leading to renewed selling pressure on U.S. Treasuries. The yield on the benchmark 10-year U.S. Treasury note rose by 6.1 basis points to 5.241% as of 3 p.m., the highest level since June 12, 2007.
International oil prices also increased, with November Brent crude futures rising by 0.92% to $105.28 per barrel, and November West Texas Intermediate (WTI) crude gaining 0.21% to $92.60 per barrel.
In the domestic stock market, foreign investors are showing a selling trend, having sold a net 896.1 billion won in the early trading session.
The exchange rate is expected to fluctuate within a stable range. Min Kyung-won, an economist at Woori Bank, stated, "Today’s exchange rate is anticipated to fluctuate around the 1360 won mark due to increased dollar supply at the end of the quarter and strong dollar pressures. Despite external uncertainties, the won has maintained a relatively stable trend, supported by regional dollar supply as a buffer."
He added, "It is also noteworthy that Japanese authorities are continuously raising warnings about the weak yen, which could support the won's strength through yen correlation if the yen appreciates."
* This article has been translated by AI.
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