Won-dollar exchange rate closes at 1,300 won for the first time in 12 years and 11 months
KOSDAQ index plunged 4% for two days in a row… retreat to the 710 line
As concerns about an economic slowdown grew, the won-dollar exchange rate surpassed 1,300 won for the first time in nearly 13 years.
The stock market hit a new low for the second day.
As unrest in the financial market continued, the financial authorities decided to strengthen emergency response.
Reporter Cho Tae-hyun reports.
The won-dollar exchange rate eventually crossed the 1,300 won per dollar level.
After showing an upward trend from the beginning of the market, it ended the trade at 1,301.8 won, up 4.5 won from the previous day.
It is the first time in 12 years and 11 months since July 2009 that the won-dollar exchange rate has exceeded 1,300 won.
Concerns about an economic downturn due to high inflation and the subsequent increase in the base interest rate have fueled the preference for safe assets.
[주 원 / 현대경제연구원 경제연구실장 : 1,350원까지는 단기간 내 올라갈 가능성이 있다고 생각합니다. 너무 과도하게 올랐다는 그런 시각도 많기 때문에 지금 상승세이기는 하지만 아직은 좀 지켜봐야 할 그런 상황인 것으로 보입니다.]
The stock market faltered again.
The KOSPI plunged to the 2,310 level amid foreign net selling, falling to the lowest level in 1 year and 7 months.
The KOSDAQ index plunged more than 4% for two days in a row, falling to the 710 level.
[이정환 / 한양대학교 경제금융대학 교수 : 물론 저점이 되면 해외 투자자들이 다시 들어와서 투자수익을 노리려고 하겠지만, 저점이 어디인지 모르고 하방 리스크에 대한 여전히 불확실성이 굉장히 큰 상태이기 때문에 자본 유출이 이뤄지고 있는 것들이 아니냐….]
As unrest in the financial market continued, the financial authorities took an emergency.
First, we decided to further strengthen the response inspection system by expanding and reorganizing the existing inspection meeting into a response task force.
[김소영 / 금융위원회 부위원장 : 금융시장과 금융산업 현황뿐 아니라 가계부채·부동산·기업 등 실물부문까지 촘촘하게 리스크를 점검하고, 필요한 대응을 선제적으로 추진해 나가겠습니다.]
In addition, in order to prevent the occurrence of insolvency of financial companies, we plan to promote the introduction of a system that can provide preemptive funds.
This is YTN Jo Tae-hyun.
YTN Cho Tae-hyun (firstname.lastname@example.org)
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