{
  "id": 14921159,
  "title": "Won Slips to Two-Year Low on Dollar Weakness",
  "url": "https://urgent.news/2026/10/16/won-slips-to-two-year-low-on-dollar-weakness",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-16T09:44:54.000Z",
  "source": {
    "name": "BusinessKorea",
    "slug": "businesskorea",
    "url": "https://www.businesskorea.co.kr/news/articleView.html?idxno=279022"
  },
  "original_language": "en",
  "account": "On October 16, the won-dollar exchange rate plummeted to its lowest level in approximately two years, signaling a significant two-year low. Initially, the rate climbed in the early trading session due to apprehensions about inflation in the United States, but it reversed course in the afternoon as the dollar weakened and the domestic stock market rebounded. By the end of the trading day, the exchange rate had settled at 1331.4 won, a decline of 13.2 won from the prior day's trading. The rate had peaked around 1348.0 won earlier in the morning, but by 3:29 p.m., it had plummeted to 1331.0 won. Both the lowest intraday rate and the closing exchange rate marked the lowest levels since October 2, 2024.\n\nMorning concerns about inflation and potential further tightening by the Federal Reserve (Fed) escalated, as the U.S. Producer Price Index (PPI) for September surged by 1.3% compared to the previous month. However, these concerns were overshadowed by the weaker dollar later in the day, as Federal Reserve Chair Kevin Warsh refrained from confirming additional interest rate hikes. The KOSPI, representing the domestic stock market, ended the day at 5668.05, marking a 2.05% increase from the previous trading session. This positive movement in the stock market also contributed to the decline in the exchange rate. Additionally, foreign investors netted 341.3 billion won (approximately $256.4 million) in domestic stocks, reversing a trend of net selling that had persisted for eight consecutive trading days.",
  "summary": "The won-dollar exchange rate broke the yearly intraday low on Oct. 16, falling to its lowest level in about two years.It rose early in the session due to concerns over inflation in the United States, but turned downward in the afternoon due to a weaker dollar and a rebound in the domestic stock mark",
  "key_points": [
    "Won-dollar exchange rate hits two-year low at 1331.4 won",
    "Inflation concerns and Fed rate hike speculation rise",
    "KOSPI stock market gains 2.05% amid dollar weakness"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}