Won's rally raises prospect of 1,200-level per dollar rate
The Korean won has strengthened sharply against the U.S. dollar in recent months, raising expectations that the won-dollar exchange rate could fall below 1,300 won per dollar and enter the 1,200 won range, market watchers said Monday. The exchange rate has fallen by more than 200 won from its monthly average of 1,528 won in June, as strong semiconductor exports have helped offset dollar demand…
The Korean won has shown significant strength against the U.S. dollar, potentially driving the exchange rate below 1,300 won per dollar and even reaching the 1,200 won range, according to market analysts cited by The Korea Times. This shift is attributed to robust semiconductor exports, which have offset the demand for the dollar from foreign investors selling Korean stocks.
The Bank for International Settlements reports that the won's nominal effective exchange rate (NEER) has risen to 94.83 as of the latest data, up from 91.99 at the end of September, marking the highest level since October 2024. This positive trend in the NEER index, which measures the currency's value against major trading partners without inflation adjustment, suggests a strengthening won, potentially leading to the exchange rate reaching the 1,200 won per dollar level.
Brief written by urgent.news from The Korea Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 1 other outlet
- Won's rally raises prospect of 1,200-level per dollar rate koreatimes.co.kr
