Foreign Exchange Market Update: Dollar-Won Exchange Rate
By Gyu-seon Lee
As of 1:51 pm on the 21st, the dollar-won exchange rate was trading at 1,287.20 won, showing a decrease of 4.40 won from the previous level. Despite the yuan’s strength, the decline in demand for regional payments seems to be limited.
Opening at 1,288.00 won, the dollar-earned saw a decrease of 3.60 won from the previous day. However, it fell to 1,284.00 won during the day due to the strong performance of the yuan. Nevertheless, some of the decline was reversed as a result of robust demand for payments.
Commenting on the situation, a foreign exchange dealer at a bank noted that there was a significant increase in settlements compared to the previous day, attributing the limited decline to the strong yuan. He further mentioned that while the trend of global dollar weakness may endure, the dollar’s gains have significantly decreased, leaving open the possibility of an adjustment in the strength of the gain.
- The dollar-yuan offshore exchange rate (CNH) decreased from 7.16 yuan to 7.13 yuan.
- The dollar-yen exchange rate was trading at 147.442 yen, showing a decrease of 0.888 yen compared to the New York market.
- The euro-dollar exchange rate was trading at $1.09600, indicating an increase of $0.00183.
- The yen-earned arbitrage exchange rate was 872.93 won per 100 yen, and the yuan-earned exchange rate was at 180.4 won.
This article was originally published on the Infomax financial information terminal at 13:55, two hours earlier.
(Seoul = Yonhap Infomax) Reporter Gyu-seon Lee = The dollar won exchange rate is trading in the mid to high range won 1,280.
Despite the yuan’s strength, further declines in demand for regional payments appear to be limited.
In the Seoul foreign exchange market on the 21st, the dollar won exchange rate traded at 1,287.20 won, down 4.40 won from the previous level at 1:51 pm
On this day, the dollar-earned opened at 1,288.00 won, down 3.60 won from the previous day.
After opening, it fell to 1,284.00 gained during the day following the strength of the yuan.
However, some of the decline was reversed due to strong demand for payments.
A foreign exchange dealer at a bank said, “There were a lot of hold-up negotiations the day before, but today there were definitely a lot of settlements,” and added, “Despite the strong yuan, the decline is limited.”
He added, “The trend of global dollar weakness may be prolonged, but the price gained by the dollar has fallen significantly so far,” adding, “We leave open the possibility that the strength of the gain is adjusted.”
On this day, the dollar-yuan offshore exchange rate (CNH) fell from 7.16 yuan to 7.13 yuan.
At the same time, the dollar-yen exchange rate was trading at 147.442 yen, down 0.888 yen compared to the New York market, and the euro-dollar exchange rate was trading at $1.09600, up $0.00183.
The yen-earned arbitrage exchange rate was 872.93 won per 100 yen, and the yuan-earned exchange rate was traded at 180.4 won.
kslee2@yna.co.kr
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This article was published on the Infomax financial information terminal at 13:55, two hours earlier.
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