Dollar-won 1,500closed below the won, with yen strength and forward-selling pressure
The dollar-won exchange rate 7on 11in New York 1,500closed below the won, raising the possibility of a direct impact on exchange-rate gains and losses for exporters and importers. Japan’s finance minister’s remarks on public pension fund domestic investment, exporters’ forward-selling, and verbal intervention by the Ministry of Economy and Finance all worked together.
The dollar-won exchange rate 7on 11in New York 1,500closed below the won, and could directly affect exchange-rate gains and losses for exporters and importers.
New York NDF 1the final quote for the overnight MID-month contract was 1,498.20.
The bid and ask quotes were 1,498.00and 1,498.40respectively.
Swap points were -1.25won.
Compared with the Seoul spot close the previous day of 1,501.40won, it is about 1.95won lower.
In the Seoul foreign exchange market, the dollar-won 1,498.50won at the close. This is 1,501.40won lower than the previous session’s close of 2.90won.
24Compared with the previous day’s early-morning close from 1,509.50won earlier, it is down 11.00won.
The won strengthened after Japanese Finance Minister Satsuki Katayama said public pension funds would expand domestic investment, and that move also supported the won’s strength.
Meanwhile, it was observed that exporters’ forward-selling orders and a verbal intervention by a senior official at the Ministry of Finance and Economy increased downward pressure on the market.
In London and New York trading, there was a move to recover some of the previous day’s losses, but in the pre-dawn session it again 1,500fell below one won.
Sources: 연합인포맥스
Bullstory synthesized this report from the linked sources. AI may have assisted the writing process. Check the original reports for factual confirmation.