Won-Dollar Exchange Rate Falls as Exporters' Dollar Selling Overpowers Rising US Yields

Despite rising US Treasury yields, the South Korean won-dollar exchange rate fell on the 30th due to heavy dollar-selling orders from exporters and caution surrounding potential market intervention by Japanese foreign exchange authorities.

The closing price for the won against the US dollar at 3:30 p.m. was 1,352.8 won per dollar, a decrease of 3.9 won from the previous trading day's close of 1,356.7 won.

Robust export performance allowed companies with ample dollar reserves to flood the foreign exchange market with dollar supplies ahead of the quarter-end and month-end, driving down the exchange rate.