Dollar-won 1,532.70won close, compared with the weekly closing price by 20.60won

The dollar-won exchange rate substantially narrowed its decline in overnight trading and closed at 1,532.70won. The closing price at this time was tallied at 2a.m. Compared with the previous Seoul foreign-exchange market close, it was 2.30won lower.

Compared with the weekly trading close for this session of 1,512.10won, it was 20.60won higher. During the regular session (from 9to 15), the decline at times widened considerably. After trading moved to New York, most of the losses were recovered.30},

Stock indexes plunged in the U.S. stock market, led by artificial intelligence and semiconductor-related shares. This plunge led to risk aversion, also affecting the exchange rate. Exchange-rate movements moved in tandem with conditions in international financial markets.

The market showed volatility depending on the difference in movements between the regular session and the New York session. The dollar-won exchange rate strengthened during the regular session before showing a shift to weakness in the New York session. Volatility increased as market participants changed their positions.

The sharp decline in U.S. stocks and the resulting preference for safe-haven assets were cited as the reasons for the narrowing of the overnight losses. The exchange rate is an indicator that simultaneously reflects conditions in the domestic foreign exchange market and movements in overseas stock markets. In this session, the shock from overseas stock markets was transmitted directly to the exchange rate.