Exchange Rate Slightly Rises to 1,420 Won Due to Overnight Dollar Rebound

The won-dollar exchange rate is recording the 1,420 won level with a slight increase due to the overnight dollar rebound on the 18th.

As of 10:45 a.m. on the Seoul foreign exchange market, the won-dollar exchange rate is trading at 1,422.40 won.

The exchange rate started at 1,420 won, up 1.1 won from the previous day, and is fluctuating around the 1,420 won level in the early session.

The dollar rebounded on news of progress in U.S. tariff negotiations and the European Central Bank (ECB)'s interest rate cut.

The dollar index, which shows the value of the dollar against six major currencies, is at the 99.333 level.

President Trump of the United States stated that there has been progress in negotiations with Japan, Mexico, Italy, and is "in talks with China".

He also projected that "a trade agreement with China could be reached in the next 3 to 4 weeks".

The ECB lowered its policy rate by 0.25%p at the monetary policy council meeting the previous day.

Christine Lagarde, President of the ECB, pointed out that "the downside risk to economic growth has increased," and that uncertainties surrounding tariff policies could shrink exports and lower economic growth rates.

Although trading volume is expected to be low due to the U.S. Good Friday holiday, factors such as the dollar rebound, bargain buying, and demand for currency exchange are cited as upward pressure on the exchange rate.

Hana Bank stated, "President Lagarde's dovish remarks support the global dollar rise, leading to an increase in the exchange rate."

Woori Bank projected that "the exchange rate will recover to the 1,420 won level amid reduced trading volume, with bargain buying dominance including import payments."

Kookmin Bank noted that "on this day, $2.59 billion in foreign dividends will be paid," and "this could temporarily stimulate the exchange rate to rise as it leads to demand for dollar exchange."

Reporter Kim Yewon yen88@wowtv.co.kr