KRW/USD Exchange Rate Rose 1.4 KRW to 1,347.3 KRW (15:30 Closing Price)
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The won-dollar exchange rate against the US dollar stood at 1,343.1 won at 9:00 AM on the 14th. This is down 2.8 won (0.2%) from the previous day's weekly closing price. Forecasts suggest the exchange rate could fall into the 1,330 won range during the day. This is because the Bank of Japan is highly likely to raise its policy interest rate by one notch this week, from the current 1% to 1.25%. If Japan raises interest rates, the won could streng…
As of 3:30 p.m. on the 14th in the Seoul foreign exchange market, the won-dollar exchange rate is trading at 1,347.3 won, up 1.4 won from the previous day's weekly closing price.
The won-dollar exchange rate is expected to experience increased volatility on the 14th as upward and downward factors—namely, the worsening situation in the Middle East and the strengthening yen—coexist. While the possibility of the exchange rate surpassing 1,350 won again has increased as international oil prices surge due to Middle Eastern instability, the appreciation of the yen driven by expectations of a Bank of Japan (BOJ) interest rate h…
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