Won strengthens on robust exports, increased dollar supply
The Korean won has strengthened against the U.S. dollar amid an increase in dollar supply driven by robust exports, central bank data showed Sunday. The Korean won traded at an average of 1,342.6 won per dollar during the first 12 trading days of October, marking the lowest since September 2024, when the average won-dollar exchange rate was 1,332.8 won, according to data from the Bank of Korea…
The Korean won has strengthened against the U.S. dollar due to robust exports and an increased supply of dollars, according to data from the Bank of Korea. The exchange rate decreased to a low of 1,328.9 won per dollar by Friday, marking the lowest point since October 2, 2024. This trend is attributed to the trade surplus and ample dollar supply in Korea.
Experts attribute the appreciation of the won to these factors, noting that the monthly average exchange rate fell to 1,492.5 won in March and 1,358.8 won in September as a result of exporters selling dollars in the market.
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- Won strengthens on robust exports, increased dollar supply en.yna.co.kr
- Won strengthens on robust exports, increased dollar supply koreatimes.co.kr
