Won Dives Below 1,400 Against Dollar Amid Fed Rate Hike Expectations

The South Korean won has hit a 10-and-a-half-month low against the US dollar, breaking the 1,400-won mark. At 12:02 PM on the 19th, the exchange rate stood at 1399.0 won against the U.S. dollar in the Seoul foreign exchange market.

This marks the first time since October 2 last year that the exchange rate has fallen below 1,400 won. The weakening of the US dollar is attributed to the Federal Reserve's (Fed) weak expectations for a September interest rate hike.

The Fed's decision not to raise its key interest rate next month has contributed to the decline in the value of the US dollar. Additionally, exporters' sales of dollars have increased, with semiconductor companies driving this trend.