[Asia Economy Reporter Seo So-jeong] On the 20th, ahead of the Lunar New Year holiday, the won-dollar exchange rate showed a downward trend in the early trading session.
According to the Seoul foreign exchange market on that day, as of 9:30 a.m., the won-dollar exchange rate was 1.1 won lower than the previous day's closing price, at 1232.2 won.
The exchange rate, which opened at 1236.0 won, up 3.9 won that day, soon reversed to a decline and fell to 1230.2 won around 9:11 a.m.
The won-dollar exchange rate is under downward pressure as the global dollar shows a weak trend and Asian currencies such as the yen strengthen.
Oh Chang-seop, a researcher at Hyundai Motor Securities, said, "In terms of supply and demand, whether foreign investors are buying in the domestic stock market is important, and if the net buying trend continues, it could drive the exchange rate down," adding, "The exchange rate is expected to fluctuate around the 1230 won level today."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
