Won-Dollar Exchange Rate Partially Recoups Losses, Fluctuates in Low 1,440-Won Range (Updated)

The won-dollar exchange rate, which opened lower due to the weaker dollar stemming from heightened uncertainty over U.S. tariffs and the continued rally in the domestic stock market, has pared some of its losses and is moving in the low 1,440-won range.

On the 23rd, the KOSPI index and other figures are displayed on a status board in Hana Bank's dealing room in Jung-gu, Seoul. Yonhap News

As of 10:38 a.m. on the 23rd in the Seoul foreign exchange market, the won-dollar exchange rate was trading at 1,442.5 won, down 4.10 won from the previous trading day’s weekly closing price (as of 3:30 p.m.).

The exchange rate opened at 1,443.0 won, down 3.6 won from the previous trading day, and then extended its decline to the high-1,430-won level in early trading. After falling to as low as 1,439.1 won at 9:04 a.m., it has since recouped part of its losses and continues to trade in the low 1,440-won range.

At the end of last week, the U.S. Supreme Court ruled that U.S. President Donald Trump’s reciprocal tariffs were unlawful, and President Trump further announced that he would introduce a 15% global tariff based on Section 122 of the Trade Act, thereby increasing related uncertainty. The dollar index, which measures the value of the U.S. dollar against the currencies of six major countries, stands at 97.428, down 0.326.

At a market situation review meeting held that day, chaired by First Vice Minister of Finance and Economy Lee Hyungil and attended by the Bank of Korea, the Ministry of Trade, Industry and Energy, the Financial Services Commission, and the Financial Supervisory Service, participants stated, “On the day of the U.S. Supreme Court’s ruling invalidating the reciprocal tariffs, U.S. and European stock markets rose and the dollar index also remained stable, so the impact on global markets was limited,” adding, “However, with external risk factors such as the announced 15% hike in global tariffs and ongoing geopolitical tensions still present, we will remain vigilant and closely monitor market conditions.”