The won-dollar exchange rate remains in the 1380s.
On August 26, in the Seoul foreign exchange market, the exchange rate for the won against the US dollar was 1,385.0 won as of 10:23 a.m. The rate recorded a decrease of 3.4 won from the previous day's closing price, settling at 1,382.7 won as of 6 a.m.
This decline is attributed to expectations of reduced military tensions between the U.S. and Iran, which have led to weaker oil prices and a weaker dollar.
On August 25 (local time), reports emerged that the U.S. would strengthen economic pressure on Iran instead of pursuing military action, alleviating concerns over potential disruptions in oil supply.
International oil prices have fallen for two consecutive days. October Brent crude dropped 3.89% to $88.58 per barrel, while West Texas Intermediate (WTI) fell 3.12% to $82.36 per barrel.
The dollar index, which measures the dollar's value against six major currencies, also decreased by 0.134% to 98.883.
In the domestic stock market, foreign investors are selling off. Early in the trading session, foreign investors have net sold 423.6 billion won in the securities market.
The exchange rate is expected to decline further. Min Kyung-won, an economist at Woori Bank, stated, "Given the drop in international oil prices, government bond yields, and the dollar index, we anticipate the rate will lower to the mid-1370s. As the exchange rate decreases, exporters facing month-end negotiations may add pressure for further declines, potentially pushing the rate down to the mid-1370s during the day."
* This article has been translated by AI.
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