'Impact of Impeachment Political Situation' KRW-USD Exchange Rate Opens 6.8 KRW Higher at 1426 KRW
Korea Economic Daily
Summary
- The KRW-USD exchange rate is eyeing the 1430 KRW level, indicating that the unstable political situation is affecting the exchange rate.
- In the Seoul foreign exchange market, the KRW-USD exchange rate opened at 1426 KRW, the highest since 2022, indicating a rapid decline in the value of the won.
- The exchange rate briefly rose to 1430 KRW in the early trading session, suggesting significant volatility for investors.
Due to political instability, the value of the Korean won is rapidly declining. The KRW-USD exchange rate is eyeing the 1430 KRW level.
On the 9th, in the Seoul foreign exchange market, the KRW-USD exchange rate started trading at 1426 KRW, up 6.8 KRW from the previous trading day's closing price. This is the highest level in over two years and one month since November 4, 2022 (1426.0 KRW), based on the opening price.
Subsequently, the KRW-USD exchange rate briefly rose to 1430 KRW in the early trading session.
Jung Dong-dong, Hankyung.com reporter dong2@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
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