The won/dollar exchange rate increased on the 11th due to the US Consumer Price Index (CPI) shock, reaching the highest level in 17 months.
On this day, the won-to-US dollar exchange rate in the Seoul foreign exchange market closed at 1,364.1 won, up 9.2 won from the previous trading day. The exchange rate opened at 1365.0 won, up 10.1 won from the previous day, and varies between 1361.8 and 1365.0 won. Based on the intraday high, 1365.0 won is the highest level since November 10, 2022 (1378.5 won). The closing price is also the highest since November 10, 2022 (1377.5 won).
As the US CPI rate of increase exceeded market expectations, the dollar strengthened. According to the US Department of Labor, the US CPI rose in March by 3.5% compared to the same month last year. It was higher than the previous month’s rate of increase (3.2%) and experts’ expectations (3.4%). As the CPI rate of increase jumped to the highest level in six months, the market gained weight in the forecast that the Federal Reserve would cut interest rates ‘later and less’.
As of 3:30 pm, the monetary exchange rate won/yen is 891.13 won per 100 yen. It was 0.93 won below the standard price (892.06 won) at 3:30 pm on the previous trading day.
Hello Te Reporter Lee Chang-hyeon |
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