The won-dollar exchange rate is currently in the 1350 won range.
As of 9:08 a.m. on September 30, the exchange rate in the Seoul foreign exchange market is 1,352.3 won against the U.S. dollar. The rate at 6 a.m. today was trading at 1,354.0 won, down 2.7 won from the previous day's closing price.
The decline is attributed to the strong dollar and rising U.S. Treasury yields, along with selling pressure from exporters.
Last night, the yield on the U.S. 10-year Treasury note traded at 5.265%, marking the eighth time this month it has reached a new high since 2007. The yield on the 30-year Treasury note also rose to 5.612% during the session, the highest level since June 2002.
The New York stock market showed slight declines. The Dow Jones Industrial Average closed down 131.59 points (0.26%) at 50,349.92.
The S&P 500 index fell by 12.85 points (0.17%) to close at 7,670.84, while the Nasdaq Composite dropped 22.84 points (0.09%) to finish at 26,797.54.
International oil prices fell following news that Saudi Arabia has resumed oil exports in the Red Sea. November Brent crude futures ended down 2.56% at $102.59 per barrel, while November West Texas Intermediate (WTI) crude fell 3.48% to $89.38 per barrel.
The dollar index, which measures the dollar's value against six major currencies, rose 0.18% to 101.403.
In the domestic stock market, foreign investors are currently in a buying position. Early in the trading session, foreign investors have net purchased 41.1 billion won in the securities market.
The exchange rate is expected to fluctuate within a stable range. Min Kyung-won, an economist at Woori Bank, stated, "Despite the pressure of a strong dollar, supply and demand factors at the end of the quarter are expected to keep the exchange rate in the low to mid-1350 won range."
He added, "While the rising U.S. Treasury yields, particularly in long-term bonds, pose a burden on the won, the selling pressure from exporters at the end of the quarter and concerns over intervention by Japanese authorities will likely cap the upper limit of the exchange rate. This steady supply, based on robust export performance, will naturally help control attempts to raise the exchange rate."
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.