Dollar-won exchange rate 1,530breaks through the won mark, prompting an emergency government review
4The dollar-won exchange rate that day 2009on an opening-price basis for the first time since the year 1,530rose above the won level. Amid the war in the Middle East, the US tariff announcement, and foreign investors’ 18consecutive trading-day net selling, the government held an emergency market review meeting to assess conditions in the won market. FOMC and the US CPI release are being cited as future variables.
4The dollar-won exchange rate that day 2009on an opening-price basis for the first time since the year 1,530rose above the won level. The exchange rate had renewed its high on an opening-price basis. The market exchange-rate figure was reflected as an important indicator in trading that day.
The war in the Middle East, the US tariff announcement, and foreign investors’ 18consecutive trading-day net selling are exerting pressure simultaneously. As these three factors act at the same time, selling pressure in the foreign-exchange market has increased. Foreign capital flows continue to be monitored in conjunction with the recent sharp rise in the exchange rate.
The government held an emergency market review meeting. The meeting discussed trends in the won market and response measures. The authorities said they would consider market-stabilization measures if necessary.
The FOMC and the release of the US Consumer Price Index (CPI) have been cited as factors to watch going forward. The two events could affect dollar supply and demand as well as interest-rate expectations. Market participants are checking the schedules for these releases.
Financial authorities and relevant government agencies continue to review the related data. They are continuing consultations in preparation for the possibility of further volatility in the foreign-exchange market. Investors and companies are monitoring exchange-rate fluctuations.
Sources: 연합인포맥스
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