Forex
Won-Dollar Exchange Rate Slumps Amid Stronger Yen
The won-dollar exchange rate fell for the first time in eight trading sessions on September 21. The price dropped to 1,381.0 won per US dollar, down 2.3 won from the previous day's close.
The U.S. monetary tightening stance and Middle East risks had been putting upward pressure on the exchange rate, but the strengthening of the Japanese yen and dollar-selling by exporters ahead of the Chuseok holiday took precedence.
The dollar index rose 0.118 to 100.330, reflecting the greenback's continued strength due to the Federal Reserve's rate hikes and risk-aversion sentiment driven by geopolitical tensions in the Middle East.