The won-dollar exchange rate briefly fell to the low 1330s, marking its lowest level in two years.
As of 11:28 a.m. on October 12, the exchange rate in the Seoul foreign exchange market stood at 1,335.1 won per dollar. Earlier in the morning, the rate was trading in the 1,340 won range before dropping to the 1330s.
Notably, the exchange rate reached 1,333.2 won at 9:56 a.m., the lowest level since October 4, 2024, when it hit 1,331.3 won.
This decline is attributed to export companies selling dollars. According to the Korea Customs Service, the export volume from October 1 to 10 was $26.1 billion, the highest for the same period on record.
In contrast, foreign investors are selling off in the domestic stock market. In the securities market, foreign investors have net sold 743.5 billion won.
At the same time, the dollar index (DXY), which reflects the value of the dollar against six major currencies, fell by 0.090 to 102.142.
Min Kyung-won, an economist at Woori Bank, stated, "The selling pressure from semiconductor companies will support the upper range of the exchange rate. The demand for currency exchange from export companies, which is no longer limited to the end of the month, is a factor that weighs heavily on the upper range."
* This article has been translated by AI.
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