The won-dollar exchange rate broke through the 1310 won level during the day as fears of a global economic slowdown grew stronger.
According to the Seoul Foreign Exchange Market on the 6th, as of 9:18 a.m. that day, the won-dollar exchange rate was trading at 1309.9 won, up 8.7 won from the previous day.
On this day, the won-dollar exchange rate opened at 1308.5 won, up 8.2 won from the previous day. At the beginning of the market, it climbed to 1311 won, the highest level in 13 years. It broke through the 1310 range for the first time since July 13, 2009 (the mid-day high of 1315 won).
As fears of a global economic downturn spread, the trend toward safe assets is the result. Russia has announced that it will cut its natural gas supply to the eurozone for ten days starting in mid-February. In addition to the news of a strike by workers in Norwegian offshore oil and gas fields, concerns about an economic slowdown are growing. The dollar is showing super strength. The dollar index on the 5th (local time) stood at 106.5, the highest level since November 2002.
Eunbit Koh, reporter at Hankyung.com silverlight@hankyung.com
