Weekly trading closes at 1,469.0 won, up 18.8 won
Highest level since January 22 (1,469.9 won)
The won-dollar exchange rate surged nearly 19 won to close sharply higher, approaching the 1,470-won level, as foreign investors engaged in large-scale net selling of domestic stocks.
On the 5th, an employee at the dealing room of Hana Bank's head office in Jung-gu, Seoul, is monitoring the stock market and exchange rates.
On February 5 in the Seoul foreign exchange market, the weekly closing price of the won-dollar exchange rate (as of 3:30 p.m.) stood at 1,469.0 won, up 18.8 won from the previous day. This is the highest level since January 22, when it recorded 1,469.9 won. The rate opened the day at 1,461.0 won, up 10.8 won, and then extended its gains.
On the same day in the KOSPI market, foreign investors recorded net selling of more than 5 trillion won. Institutions also showed a selling advantage of around 2 trillion won. In contrast, individual investors displayed net buying of about 6.77 trillion won. The KOSPI closed at 5,163.57, down 207.53 points (3.86%) from the previous session.
The strong U.S. dollar also added momentum to the relative decline in the value of the won. Overnight, U.S. Treasury Secretary Scott Bessent reaffirmed his long-standing stance in a U.S. House hearing that he always supports a strong-dollar policy. The dollar index, which measures the value of the dollar against the currencies of six major countries, rose to as high as 97.799, up 0.14% from the previous day. The Japanese yen weakened to the 156-yen range ahead of Japan's early general election.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
