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In the end, the exchange rate was above 1,400 won for the third consecutive major step in the United States.

▲ Photo = Yonhap News

On the 21st (local time), the US Federal Reserve (Fed) took the third ‘giant step’ (an increase of 0.75 percentage points in the key interest rate at the time).

The Fed raised the benchmark interest rate by 0.75 percentage points (p) to 3.00 to 3.25 percent at a regular meeting of the Federal Open Market Committee (FOMC) on the same day.

As the Fed reaffirmed its high strength tightening stance overnight, the expectation was that the dollar would continue to strengthen.

This is the first time in 13 years and 6 months that the exchange rate has exceeded 1,400 won since March 31, 2009 (1422.0 won).

/ Reporter Noh Yu-jin ie-ujin@incheonilbo.com

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▲ 인천일보, INCHEONILBO

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