The exchange rate reached its highest point in 2 years and 1 month

Jumped to 1442.00 at one point... Highest since October 2022

The exchange rate rose to 1440 at one point after the announcement of the non-regular cabinet meeting by the President, then decreased to 1425. The exchange rate was traded at 1425.00, up 23.70 from the previous closing price, at the Seoul foreign exchange market weekly trading (9 AM to 3:30 PM) on the 4th. The government extended the foreign exchange market trading hours to 2 PM, the closing time of the London financial market, since last July. The exchange rate jumped 22.10 in the overnight trading after recording a weekly closing price of 1402.90 at 3:30 PM on the 3rd. The rate rose sharply after the news of the non-regular cabinet meeting was delivered at 10:23 AM the previous day. The exchange rate, which was 1402 before the announcement of the non-regular cabinet meeting, jumped to 1410 immediately after the announcement and then rose again to 1440. At one point, it peaked at 1442.00, the highest since October 25, 2022, when it recorded 1444.20. President Yoon lifted the cabinet meeting in 6 hours after the announcement of the non-regular cabinet meeting at 10:23 AM the previous day. With the announcement of the non-regular cabinet meeting and the subsequent report from the cabinet office, Korea entered the non-regular cabinet system from 11 AM the previous day. However, on this day, the proposal for lifting the non-regular cabinet meeting was passed unanimously with 190 members of the National Assembly attending the main session at 1 PM. President Yoon presided over the cabinet meeting on this day and the National Assembly decided on the 'proposal for lifting the cabinet meeting'.

Reporter Oh Jung-min from Hankyung blooming@hankyung.com