Won-Dollar Exchange Rate Falls Early in Trading... Drops to 1335 Won Range (Update)

[Image source=Yonhap News]

On the 19th, the won-dollar exchange rate, which started lower, continued to show a downward trend in the early trading session.

At the Seoul foreign exchange market, as of 10:01 a.m., the won-dollar exchange rate was 1,335.2 won, down 4.5 won from the previous day.

The won-dollar exchange rate opened at 1,338 won, down 1.7 won from the previous day, and the decline has been widening.

The dollar weakened as risk appetite recovered following better-than-expected earnings from Taiwan's TSMC, the world's largest semiconductor foundry, which boosted semiconductor-related stocks in the U.S. stock market.

On the 18th (local time) at the New York Stock Exchange (NYSE), AMD and Nvidia shares rose more than 1% and 2%, respectively, while Apple shares increased by more than 3%.

Earlier this week, the exchange rate rose to the 1,340 won range, perceived as a high point, prompting exporters to actively sell dollars, which also contributed to the increased downward pressure.