Won-Dollar Exchange Rate Falls Ahead of US Consumer Price Index... Closes Down 7.9 Won at 1269.4 Won

[Image source=Yonhap News]

The won-dollar exchange rate closed in the late 1260s, down nearly 8 won from the previous trading day.

On the 14th at the Seoul foreign exchange market, the won-dollar exchange rate closed at 1269.4 won, down 7.9 won from the previous closing price of 1277.3 won.

On that day, the exchange rate opened at 1273.0 won, down 4.3 won from the previous day, fluctuated in the low 1270s, then widened its decline from the afternoon, lowering the bottom to 1266.7 won.

Accordingly, the exchange rate, which had risen for seven consecutive trading days since the 3rd, turned downward again after eight trading days.

The foreign exchange market showed a wait-and-see stance, awaiting the release of the U.S. January Consumer Price Index (CPI) announced that night. If the CPI comes out higher than market expectations, hopes for inflation slowdown may be dashed, and the dollar could rebound.