The won-dollar exchange rate is trading in the high 1370s.
As of 10:15 a.m. on August 28, the exchange rate in the Seoul foreign exchange market is 1,378.3 won per U.S. dollar. Earlier, at 6 a.m., the rate was 1,381.5 won, reflecting a rise of 0.6 won.
Overnight, the New York stock market saw gains. The Dow Jones Industrial Average closed up 105.56 points (0.20%) at 53,569.44.
The S&P 500 index rose by 55.29 points (0.72%) to finish at 7,730.99, while the Nasdaq Composite increased by 411.16 points (1.57%) to close at 26,541.35.
International oil prices rebounded after expectations for negotiations between the U.S. and Iran weakened. October futures for Brent crude rose by 2.12% to $89.70 per barrel, while West Texas Intermediate (WTI) increased by 1.58% to $83.53 per barrel.
The dollar index, which measures the value of the dollar against six major currencies, rose by 0.006% to 99.153.
Foreign investors are showing a selling trend in the domestic stock market. In the early trading session, foreign investors have net sold 284.8 billion won in the securities market.
The exchange rate is expected to show slight weakness. Min Kyung-won, an economist at Woori Bank, stated, "In light of comments from Federal Reserve Chair Kevin Warsh, we expect the rate to attempt to break below 1,380 won amid the AI stock rally. From a supply-demand perspective, we anticipate that the influx of export-related negotiations at the end of the month and the return of foreign funds, which had been sparse this week, will shift the market to a selling advantage."
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.