The won-dollar exchange rate has slightly decreased to the 1340 won range.
As of 9:15 AM on October 6, the exchange rate in the Seoul foreign exchange market is 1342.8 won against the US dollar. At 6 AM, the rate was recorded at 1342.4 won, down 1.6 won from the previous trading day's closing price of 1344.00 won.
Despite rising US Treasury yields contributing to a stronger dollar, the exchange rate has shown a slight decline. Overnight, the yield on the US 10-year Treasury note reached as high as 5.347%, marking the highest level since April 3, 2002. The 30-year yield also climbed to 5.702%, the highest since May 2002.
The dollar remained strong, with the dollar index, which measures the dollar's value against six major currencies, rising by 0.25% to 102.136.
The New York stock market closed higher across the board. The Dow Jones Industrial Average finished up 90.94 points (0.18%) at 51,267.90. The S&P 500 index rose by 51.23 points (0.66%) to close at 7,773.95, while the Nasdaq Composite gained 286.45 points (1.05%) to finish at 27,477.31.
International oil prices fell amid easing supply concerns. Brent crude for December delivery closed down 1.89% at $100.32 per barrel, while West Texas Intermediate (WTI) for November delivery fell 1.84% to $89.43 per barrel.
At the same time, foreign investors were net sellers in the domestic stock market. Early in the trading session, foreign investors sold 283.3 billion won worth of stocks.
The exchange rate was expected to rise. Min Kyung-won, an economist at Woori Bank, stated, "The exchange rate is projected to rise slightly, centered around the mid-1340 won range, supported by the strong dollar and bargain hunting. As the impact of the global dollar strength is reflected in the foreign exchange market, the exchange rate is likely to trend upward." He added, "In terms of supply and demand, importers are likely to seek dollars ahead of mid-month payments, and the ongoing demand for currency exchange for overseas stock investments by residents is expected to support the rise in the exchange rate."
* This article has been translated by AI.
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