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[Breaking News] 'Martial Law Declared' as Won-Dollar Exchange Rate Surpasses 1,425 Won

Korea Economic Daily

Summary

It was reported that the won/dollar exchange rate surged to 1,430 won due to President Yoon's declaration of martial law.
This marks the highest level in about 2 years and 1 month.
It was stated that the volatility of the exchange rate is expected to increase as the strength of the dollar continues.

Highest in 2 Years and 1 Month

The won/dollar exchange rate soared to 1,430.0 won during night trading on the 3rd following President Yoon Suk-yeol's declaration of martial law.

On this day, the won-dollar exchange rate in the Seoul foreign exchange market was recorded at 1,420.0 won as of 11:03 PM, up 18.7 won from the previous day.

The daytime trading closing price was 1,402.9 won, but it surged after the news of President Yoon's martial law declaration at 10:30 PM, reaching 1,430.0 won at 10:53 PM, up 28.7 won from the previous day.

This is the first time in about 2 years and 1 month that the won/dollar exchange rate has jumped to the 1,430 won range since October 26, 2022, when the dollar showed a super-strong trend (intraday high of 1,432.4 won).

President Yoon made an emergency statement on the 3rd and declared martial law.

Kim Young-ri, Hankyung.com reporter smartkim@hankyung.com